It’s official the FHA annual mortgage insurance premium (this is the premium that is paid monthly) is going DOWN!!! Effective with all FHA case numbers ordered on or after January 26th, the FHA annual premium is going from 1.35% to .85%. This is a HUGE monthly savings for the borrower.
Example on a $150,000 home:
Old monthly PMI: $162.84
NEW monthly PMI: $102.53
This change goes into effect on 1/26.
Have a great week!
First National Bank Home Mortgage Division
Please let us know if you've got any questions, Wow! rates can't really get any better than this!
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