How Much Can You Save with Lower FHA Annual Mortgage Insurance Premiums?

Posted by Bonnie Martin Designated Broker on Wednesday, January 7th, 2015 at 9:30pm.

houseinhand_voronin_450zillow.com - In an effort to make homeownership more accessible and sustainable, President Obama announced the Federal Housing Administration (FHA) will reduce annual mortgage insurance premiums (MIP) by 0.5 percentage points. On a $175,000 home loan with less than 5 percent down, this MIP reduction will equate to a savings of $818 per year or $3,932 over five years.

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