Following VA’s Release Yesterday about Reduced Guaranty Fees, FHA just released their New MIP Rates.
More great news as FHA has reduced its fees as well!
Effective Date:
Effective for case numbers endorsed on or after March 20, 2023.
Affected Programs:
The provisions of the ML apply to all Title II forward mortgages except mortgages insured under Section 247 (Hawaiian Homelands) of the National Housing Act (NHA), which do not require annual MIP, and Streamline Mortgagee Letter 2023-05, Continued 2 Refinance, and Simple Refinance Mortgages used to refinance a previous FHA-endorsed mortgage on or before May 31, 2009.
If you want to set up an appointment to learn more about buying, refinancing or Real Estate investing, then reach out!
