Jan
19

HUD Announced a Reduction in the MIP

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The U.S. Department of Housing and Urban Development (HUD) recently announced a quarter-percent reduction in mortgage insurance premiums on certain FHA loans. According to HUD, homeowners may save $500 per year on mortgage insurance.
FHA loans have benefits that can include small down payment requirements and, in some cases, easier qualification. Whether you purchase or refinance, the recent reduction may help by:
• Improving affordability
• Allowing access to higher loan amounts
• Offsetting the impact of recent increases in mortgage interest rates
If you have questions about FHA loans, mortgage insurance or any other aspect of mortgage financing, I’ll be happy to help. Please call or send me an email at your convenience.

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Categories : FHA Lending

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