Category: FHA Loan
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MIP Reduction for FHA Loans
On February 22, 2023, the U.S. Department of Housing and Urban Development (HUD) announced a 30 basis points (bps) reduction to the FHA Annual Mortgage Insurance Premium (MIP) rates charged to homebuyers who obtain an FHA Loan. What does it have to do with Homeowners? It means savings for FHA loan borrowers! Hooray! The Annual Mortgage Insurance Read more