Effective January 26, 2015, monthly premiums for mortgage insurance will be reduce by 50 basis points. This will save the typical FHA borrower approximately $80 per month. Premiums on larger mortgage loans can save homeowners more than a $100 each month.
Lowered mortgage insurance premiums are available for home refinances, too. If you took out an FHA loan within the last 3 years, give us a call to see if we can save you money with an easy streamline refinance. No appraisal or income documentation required. No-cost for most refinance loans.