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FHA Reduces Mortgage Insurance Premiums for FHA Loans

FHA Reduces Mortgage Insurance Premiums for FHA Loans

The Federal Housing Administration recently announced that as of January 26, 2015, it will reduce the annual mortgage insurance premiums for FHA loans by .5%.  On average, the reduction could save an FHA loan borrower about $900 per year. (Learn more about FHA Loans.) What Are FHA Mortgage Insurance Premiums? If you get an FHA-insured loan you’ll have to pay mortgage insurance (mortgage insurance protects the lender in the event you default on loan payments). There are two types of…

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