Changes to FHA Mortgage Insurance Premiums January 2015

Great news for anybody who either has an FHA loan or is looking to buy a property with an FHA loan. On January 26, 2015, which is just a few days from the taping of this video, the FHA will be lowering their Mortgage Insurance premiums. The current FHA Mortgage Insurance premium is 1.35%. It's going to be lowered by 0.5%, so from currently 1.35% to 0.85%. This represents the savings to people taking out FHA loans anywhere from $90 to $300 per month every month that you have that loan. So anybody has an FHA loan. you may be available to do a Streamline Refinance. A Streamline Refinance has very low documentation and has no closing cost so it ...