North Dakota Mortgage News

Housing and Urban Development (HUD) announced on January 9, 2017 that FHA will be lowering the annual mortgage insurance premium by 25 basis points for most new borrowers. This reduction will save borrowers an average of $500 per year on their FHA mortgage. 

Unfortunately, this change will not be in effect for current FHA mortgage holders. The change will effect loans closed on or after January 27, 2017. Purchases as well as refinances will both be positively effected by this change. 

Please give us a call at 701-222-0100 if you have any additional questions.
Posted in:FHA
Posted by Austin Ketterling on January 12th, 2017 12:28 PM

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