FHA cuts mortgage insurance premiums again
FHA cuts mortgage insurance premiums again : When the FHA announced late last year that its flagship fund, the Mutual Mortgage Insurance Fund, grew for the fourth straight year, it led to many question whether we would see a cut to its mortgage insurance premiums again. Now we have an answer. Click the headline for the full details on the FHA reducing mortgage insurance premiums. Here is the historical rate of monthly and upfront mortgage insurance since 2008: Date of Change Monthly MI Upfront MIP Before January 2008 .50% 1.50% October 2008 .55% 1.75% April 2010 .55% 2.25% October 2010 .90% 1.00% April 2011 1.15% 1.00% April 2012 1.25% 1.75% April 2013 1.35% 1.75% January 2015 .85% 1.75% January 2017 .60% 1.75% I thought I’d share some good news to kick the week (and year for that matter) off on a good note! Please let me know if you need some help locking your first FHA loan of the year with us. I’d be happy to do so. An FHA streamline refinanc...