home loan costs: Cost of a FHA home loan goes down January 27 - 01/11/17 07:29 AM
The cost of FHA home loan will go down $400 to $600 per year for the average buyer on January 27, 2017.
 
Per Bob Silva, Loan Office with V.I.P. Mortgage, "FHA has lowered their monthly Mortgage Insurance premium to 60 (.60%) basis points of the loan amount. This is a reduction of 25 bps and if you compare with conventional financing the minimum down payment is 3.5% compared to 5% for Conventional. This really brings FHA back into the fray considering that you would end up with a better interest rate and a substantially lower payment compare to Conventional monthly Mortgage insurance … (0 comments)

 
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI, Arizona Homes and Land Group/ Buy or Sell (HomeSmart Real Estate)

Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI

Arizona Homes and Land Group/ Buy or Sell

Scottsdale, AZ

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HomeSmart Real Estate

Address: 10601 N. Hayden Road, Suite I-100, Scottsdale, AZ, 85260

Mobile: (480) 242-6500



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