FHA Lowers Annual Insurance Premiums

The Federal Housing Administration (FHA) is reducing its annual mortgage insurance premium (though it's called the "annual" premium, this is actually the monthly amount added to the payment) by 25 basis points for most new mortgages with a closing date on or after January 27.

This means the average Central Texas FHA borrower would save $52 per month or $624 per year! (assuming a $250k loan amount, 30 yr fixed). 

John SchutzeComment