What does this mean to you? If you are currently in an FHA mortgage at a rate of 4% or higher, you need to take action! You may be the perfect candidate for an FHA Streamline Loan? This means you get to take advantage of the lower interest rate and lower monthly MI! You also get to take advantage of reduced fees!
What does it mean if you are house shopping? If you were budgeting based on the previous PMI rates, you can now put money in your savings account every month or potentially buy a little more house at the same payment. Either way, you win!
Both refinancing & purchasing a home, it is time to take advantage of the historic low rates along with the reduced monthly mortgage insurance.
CLICK HERE to better understand how these opportunities can benefit your current situation.
If you would like to learn more about the FHA changes, click on the following link: FHA MONTHLY MI Reduction