03/19/2023
Mortgage insurance premiums will be reduced from 0.88% to 0.55% for over 850,000 FHA borrowers.
Earlier this morning, HUD released details of a long-anticipated plan to reduce the annual MIP (mortgage insurance premiums) that are currently charged to FHA borrowers by 30 Basis Points (0.3% of the loan balance). HUD Secretary Marcia Fudge made the announcement today at Bowie State University. Th...