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Updated about 2 years ago on . Most recent reply

David Mackin's profile image
David Mackin's profile image
David Mackin
  • Lender
  • from Westminster, CO
  • Member since Jun 26, 2021
  • Posts 92
  • Votes 86
  • Experience 4 Yrs
  • Investments 1
Connect

User Stats

92
Posts
86
Votes
David Mackin's profile image
David Mackin's profile image
David Mackin
  • Lender
  • from Westminster, CO
  • Member since Jun 26, 2021
  • Posts 92
  • Votes 86
  • Experience 4 Yrs
  • Investments 1
Connect
David Mackin
  • Lender
  • Westminster, CO
86
Votes |
92
Posts
Private Lending & Conventional Mortgage Advice

FHA Just Lowered Mortgage Insurance Premium

David Mackin
  • Lender
  • Westminster, CO
Posted

Starting March 20th, new FHA borrowers will be paying 30 bps less in mortgage insurance. The premium right now is at 0.85%. It will now go down to 0.55%

This is huge for those that have higher loan amounts. Yes, MI is there for the life of the loan, but those that are taking advantage of low down payment on FHA will see much lower monthly payments.

Does this change how you feel about an FHA strategy? Let me know what you think.

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