Private mortgage insurers are hoping to head off another FHA premium cut, like the 35 percent reduction approved last year by the Biden administration that’s project to save homebuyers $5.1 billion over 10 years. Continue reading
FHA premium cuts spur growth, but borrowers with stellar credit can still do better taking out conventional Fannie Mae- or Freddie Mac-eligible mortgages with private mortgage insurance. Continue reading
Cuts are expected to save borrowers $678 million a year but don’t apply to existing loans or release homeowners who have built up equity from “life-of-loan” requirements. Continue reading