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[Andrew Bosco]

Hey everyone!

As of the mid-afternoon today, the HUD announced an FHA Loan reduction on PMI. WHAT DOES THIS MEAN? 

Well, I don't know entirely. What I do know is that many FHA homeowners will see their PMI go down, which is stellar. However, does it back date to 2022 as when the bill was first introduced? Is this for only new FHA homeowners? What's the limit? - this I actually know. A potential reduction in $800 per year on PMI (average).

The reason I don't know every answer to each of my questions is because I called my lender and asked - their response was; "We don't know, this just happened 6 hours ago. We will notify you when we find out pertinent information." 

I am ecstatic about this news because I personally bought my first investment property/househack using the FHA loan. I hope this generates some extra attention for prospective investors to use the FHA loan and to save that cash for future deals.

What are your thoughts? Please comment!