Kentucky FHA Mortgage Loans Cheaper Mortgage Insurance

 

Reduction of Federal Housing Administration (FHA) Annual Mortgage Insurance Premium (MIP) Rates

30 Basis Point Reduction for FHA Loans Cleared to Close after March 8, 2023 With the announcement of Monthly Mortgage Insurance reductions by HUD, any qualifying Kentucky FHA loan that is cleared to close after March 8th, 2023 will have a reduced MIP. With 30 bps reductions, this could be big savings for your borrowers.   We will apply the new monthly mortgage insurance rate to all qualifying Kentucky FHA loans that are not cleared to close prior to March 8th, 2023 in addition to any new loans that are submitted.

*The MIP reduction does not apply to Streamline and Simple Refinances. Have Questions or Need Expert Advice? Text, email, or call me below: Joel Lobb Mortgage Loan Officer Individual NMLS ID #57916 American Mortgage Solutions, Inc. 10602 Timberwood Circle Louisville, KY 40223 Company NMLS ID #1364 Text/call: 502-905-3708 fax: 502-327-9119 email: kentuckyloan@gmail.com http://www.mylouisvillekentuckymortgage.com/ The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org).