Cost of FHA Loans Dropping in 2015

FHA Loan Costs Falling

Good news for home buyers on the West Bank. The premiums for FHA private mortgage insurance (required on all FHA loans) are dropping from 1.35% of a home’s value down to 0.85%.

This will result in about a $900 per year savings on mortgage payments for FHA borrowers and people who refinance into an FHA insured loan.

Need an FHA lender? Call us at 504-327-5303 and we’ll refer you to a local mortgage provider that knows the ins and out of FHA financing.

 

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