Archive for February, 2015

New Changes for FHA That Everyone Should Know About

On January 26th of this year FHA officially reduced their monthly mortgage insurance premium (MIP) on all new FHA loans that are insured on or after Jan 26th, 2015.    This is great news for first time homebuyers or anyone looking to purchase a home using FHA financing.  The reduction is .5% and dropped the previous MIP from 1.35% to .85% for anyone putting down less than 5%.  If you put down more than the 5% then the reduction went from ...

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