))
What Is the FHA Doing With Its Mortgage Insurance Premium?
Manage episode 170697145 series 1005011
Контент предоставлен Gina Giampietro. Весь контент подкастов, включая эпизоды, графику и описания подкастов, загружается и предоставляется непосредственно компанией Gina Giampietro или ее партнером по платформе подкастов. Если вы считаете, что кто-то использует вашу работу, защищенную авторским правом, без вашего разрешения, вы можете выполнить процедуру, описанную здесь https://ru.player.fm/legal.
The FHA will reduce its mortgage insurance premium to lower the monthly payment for the loan buyer. Here’s what that means for you.
Want to sell your home? Get a FREE home value report
Want to buy a home? Search all homes for sale
For the first time in two years, 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, it will be reduced to 0.6% of the loan amount.
However, if you put 5% or more down, the premium will be reduced to 0.55% of the loan amount, which would be a substantial amount of savings, depending on your loan balance. With this new insurance premium being lowered, you could save as much as $55 or more per month if you purchase a home through the FHA.
This new change could save you a lot of money, depending on your loan balance.
This change should make it tougher for people to decide between a conventional loan and an FHA loan. A lot of people with 5% down or more used to go with a conventional loan because it would result in a lower mortgage premium. With this new development, though, FHA loans are going to compete with conventional loans.
For more on this topic or any other topic you would like to hear about, please feel free to call or email us anytime. Until next time, make it a great day!
23 эпизодов
Поделиться
