FHA To Hike Premiums On Mortgages

The Federal Housing Administration, which is the largest insurer of low-down payment mortgages, announced last week that it will raise premiums by l0 basis points, or 0.1 percent ,on most of the new mortgages.

English: mortgages Green Bay, WI
English: mortgages Green Bay, WI (Photo credit: Wikipedia)

mortgages it insures.

  • A borrower opting for a 30-year rate mortgage who puts down 5 percent or more will now pay an annual insurance premium of 1.3 percent of their outstanding balance, if someone puts less than 5 percent down they will pay a premium of 1.35 percent.
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