FHA finally did it!

[Zach Wain]

Today, HUD announced that FHA loans endorsed on 3/20/23 and after will have reduced annual PMI (this is really the monthly PMI people pay on their loans) by roughly 35%. For primary home buyers, this makes FHA loans cheaper and much more competitive with conventional loans. For any investors that want to buy a 2-4 unit property and occupy one of them as a primary home, the FHA product just became that much better.