To combat the mortgage rate spike, FHA has cut its annual mortgage premium!

To combat the mortgage rate spike, FHA has cut its annual mortgage premium!
Borrowers who close on any FHA loans on or after January 27th will now pay 55-60 basis points on their annual mortgage insurance premium. This was previously set at 80-85 basis points. The agency expects this cut to save borrowers on average about $5oo per year, and will help offset the impact of increasing mortgage rates.
How This Affects You: Borrowing just got cheaper for your clients. Our FHA program also allows us to pay most, if not all, of your FHA clients’ closing costs with a lender credit that you will find nowhere else. Call Kubis Realty today for more information! 732-957-0900

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