FHA Lowers Monthly Mortgage Insurance Premiums


FHA just announced a change that not only lowers the payments for home buyers, but also allows them to qualify for a greater loan amount with the same income.

The monthly MIP (Mortgage Insurance Premiums) required on FHA loans will be decreasing for new loans that close on or after Jan. 27, 2017. Typically, the MIP for a $200,000 FHA loan with a minimum down payment would be $141.66 per month. Now, the exact same loan would only cost $100 per month (29% decrease) for monthly MIP.

Call us with with any of your questions (813-707-6200) about this, or click here for general information about FHA loans.

Take the next step

Getting started is easy. Just pick one of the options below and answer some questions. It only takes a few minutes.

Get Approved to Buy

Refinance or Get Cash Out