HUD has announced the reduction of its Annual Mortgage Insurance - TopicsExpress



          

HUD has announced the reduction of its Annual Mortgage Insurance Premium (MIP) for all case numbers assigned on or after January 26, 2015 Yes, as of January 9th 2015, HUD issued Mortgagee Letter 2015-01 that states FHA loans will receive .85% MI versus the 1.35% that it is currently! So in layman’s terms, if you are using an FHA loan to purchase a house after January 26th, on a $200k loan amount, the MI will go from $225/month down to $142 /month Please contact us with any questions. We will gladly put you in touch with one of our trusted Loan Officers.
Posted on: Sun, 11 Jan 2015 01:14:03 +0000

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