Houston Mortgage Blog

The FHA reverses previously announced MI reduction

Posted by Daniel Jara on Mon, Jan, 23, 2017 @ 10:01 AM

Friday Jan 20th came with big news. HUD, in what may be an unprecedented move announced its reversal to its previously announced annual mortgage insurance (MI) reduction which had just been scheduled 11 days prior and set to take effect January 27th. The reduction was to be almost 30% on the most popular program; 30yr mortgage with a 3.5% down payment.

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Topics: Avoid Mortgage Insurance, fha, Mortgage insurance