A big change in the world of mortgage loans

What Is the FHA Doing With Its Mortgage Insurance Premium?

In case you haven’t heard, there is big news coming out of mortgage loan industry. Very soon, the FHA will reduce its mortgage insurance premium to lower the monthly payment for the loan buyer. Currently, an FHA mortgage insurance premium is based on 3.5% down, which is 0.85% of the loan amount. On January 27th, the premium will be reduced to 0.60% of the loan amount. To find out what this means for you, watch my latest video.