FHA Mortgage Insurance Premiums Lowered

Reblogger Joan Cox
Real Estate Broker/Owner with Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786

FHA has reduced the insurance premiums for our FHA buyers, and buyers will enjoy a lower house payment.   GREAT NEWS, and hopefully because the regulations have tough to get a loan, and we are seeing less and less mortgages going into foreclosure.      Great news for our first time home buyers and just in time for our early buyers!  

Original content by Bill Kamboukos NMLS#160440

fha home loans

HUD, the agency that oversees the FHA Home Loan program recently announced a reduction to the annual mortgage insurance premiums associated with most FHA loans.

            The changes reduce the annual mortgage insurance premium, which is paid on a monthly basis as part of one’s FHA loan by .25% for most 30 year fixed FHA loans and .20% for most 15 year fixed FHA loans.

            Previously, if you were obtaining a 30-year fixed FHA loan with a 5% or less down payment, the annual MIP was .85% annually and that premium will now me .60% annually. With greater than a 5% down payment on a 30-year fixed FHA loan, the annual premium drops from .80% previously to .55%.

            On 15 year, fixed FHA loans, with 10% or less down payments, the previous annual MIP was .70% and will now drop down to 50%. While on 15 year fixed loans, with greater than a 10% down payment, the annual mortgage insurance premium drops from .45% annually to .25% annually.

            These changes are another positive step to make FHA home loans more affordable for all potential home buyers, especially for someone making a smaller down payment on a home purchase and makes the FHA home loan more competitive with lower down payment conventional loan options.

            As always everyone’s individual situation is unique and it is always best to speak with a licensed lender, such as Strategic Mortgage and explore all available home loan options, for your specific situation.

For more information on  current home loan programs and options for existing and potential home owners, please contact Bill Kamboukos of Strategic Mortgage at (480) 219-3682 or by emailing: info@strategicmtgaz.com or online at www.strategicmtgaz.com 

Strategic Mortgage, LLC - NMLS#158804- Equal Housing Lender – AZBK#0909514

Vasilios Bill Kamboukos Jr – NMLS#160440

 

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Ambassador
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

This is awesome news for the very limited budgets of many first-time homebuyers. It may very well be the important help they need to purchase a home. Thanks for sharing it with us, Joan. I'd missed it. D 

Jan 10, 2017 10:41 AM #4
Rainmaker
1,149,585
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Your Alexandria Virginia Real Estate Agent

Great re-blog Joan, I was pleased to hear this news and think it could be the difference in some home buyers being able to get pre-approved vs. having to wait to buy. 

Jan 10, 2017 12:18 PM #5
Rainmaker
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Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Joan, This is excellent news and I would guess should bring some first time buyers to the buying table. 

Jan 10, 2017 01:54 PM #6
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

This is an excellent selection for a reblog and great information to share.

Jan 10, 2017 04:58 PM #7
Rainmaker
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Sheila Newton Team -- Anderson & Greenville SC Real Estate
Berkshire Hathaway HomeServices - C. Dan Joyner - Anderson, SC
27 years experience -Residential Real Estate Sales

great choice to reblog.. I plan on blogging on this myself soon.. we need to get the info out to the public!!

Jan 10, 2017 06:01 PM #8
Rainmaker
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi John - I also just read this.  It is good news for propective home owners.

Jan 10, 2017 08:10 PM #9
Rainmaker
3,043,437
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jeff, I was too, as our market is improving and see less going into foreclosure.

Jan 11, 2017 08:22 AM #10
Rainmaker
3,043,437
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Bunny, this will be great information for our first time buyers.

Jan 11, 2017 08:23 AM #11
Rainmaker
3,043,437
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Ginny, thanks.

Jan 11, 2017 08:23 AM #12
Rainmaker
3,043,437
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Debb, it will be a huge benefit for those with smaller budgets.

Jan 11, 2017 08:23 AM #13
Rainmaker
3,043,437
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Amanda, this will definitely assist many.

Jan 11, 2017 08:24 AM #14
Rainmaker
3,043,437
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Bob, hope this will encourage more first timers to jump into real estate.

Jan 11, 2017 08:24 AM #15
Rainmaker
3,043,437
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Roy, thanks for stopping by! 

Jan 11, 2017 08:25 AM #16
Rainmaker
3,043,437
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Sheila, this is great information to get out!

Jan 11, 2017 08:25 AM #17
Rainmaker
3,043,437
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Grant, I had not heard this until I read this post.  GREAT news! 

Jan 11, 2017 08:25 AM #18
Rainmaker
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Yolanda Cordova-Gilbert
C&G Consulting - Katy, TX
C&G Real Estate Consulting

Jona,

 Good news that something is going down as interest rates seem to be on the rise for now!

Jan 11, 2017 10:16 AM #19
Rainmaker
804,303
Gloria Todor
Century 21 Absolute Realty - Springfield, PA
& Doug Durren (484) 431-3686

Joan, This is a great re-blog to get the word out...something to help buyers realize their dreams!

All the best in 2017!

Jan 11, 2017 10:23 AM #20
Rainmaker
4,061,855
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

I hope you are having an outstanding week. Thanks for your comments on my blog.

Jan 11, 2017 03:05 PM #21
Ambassador
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Debbie Reynolds
Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I was so glad to see this. It has been a long time coming and will help FHA buyers get into homes.

Jan 13, 2017 06:18 PM #22
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

It is certainly a shame that the Trump administration has suspended this reduction.

Jan 26, 2017 07:43 AM #23
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Rainmaker
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Denver Real Estate - Selling One Home at a Time
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