Awesome news!! Borrowers would like to utilize FHA(Federal Housing Administration) loans to purchase homes or refinance their current loans. HUD made an announcement on Feb 22, 2023, the Annual Mortgage Insurance Premium (MIP) will be cut by 0.3% from 0.85% on the loans endorsed on and after March 20, 2023. The annual MIP will depend on the base loan amount, loan to value and the terms of the loans. For the details of FHA annual MIP, the announcement is at 2023-05hsgml.pdf (hud.gov).
What does that mean if you are looking to purchase a home? You may qualify for a higher purchase price. Call me at 925-216-3618 today and see how much you can qualify for!!!
