Federal Government has reduced the FHA annual Mortgage Insurance Premium (MIP) rates announcing this morning, January 9th, that effective Jan 26, 2015, FHA loans will receive .85% MI versus the 1.35% that it is currently!
This is GREAT news for first time home buyers AND anyone looking to buy with a low down payment!
It’s truly another good reason that now is a great time to buy…..and/or sell!
