FHA Mortgage Insurance Premiums Too High

Dated: 04/17/2014

Views: 2314

April 4, 2014

On April 2, 2014, National Association of Realtors President Steve Brown sent a letter to the Department of Housing and Urban Development (HUD) with concerns about the Federal Housing Administration’s (FHA) high annual mortgage insurance premiums and mortgage insurance that is required for the life of the loan. Home purchases are becoming increasingly out of reach for many qualified borrowers who rely on FHA financing.President Brown’s letter notes that it is possible to increase the upfront premiums and lower the annual MIP while continuing to replenish the Mutual Mortgage Insurance Fund. This will slow the rate of prepayments that are having a negative effect on the fund, while providing more access to potential homebuyers who are not being served by the private market.
NAR's Letter to HUD

Phil Mount

Phil Mount is an agent at Front Street Brokers in Boise, Idaho. Phil became a licensed REALTOR in August 2009 after a 25 year career as a technology marketing professional. In his first year as an a....

Want to Advertise on this Site?

Latest Blog Posts

Completely Remodeled Classic Ranch On The Golf Course 4959 Umatilla Ave Boise 83709 MLS 98673494

Completely Remodeled Classic Ranch on the Golf Course.  4959 Umatilla Ave, Boise 83709, MLS 98673494Fall in love with this totally remodeled classic ranch home located on the 1st

Read More

Report Power Outages To Idaho Power

The link below will show you where the power outages are in Idaho.  You can also report an outage to Idaho Power as well.  https://www.idahopower.com/Outages/map/default

Read More

Great Home In Fantastic NW Meridian Location 3498 N Elmstone Pl Meridian ID MLS 98672924

Great Home in Fantastic NW Meridian Location - 3498 N. Elmstone Pl. Meridian, ID MLS 98672924Great home in fantastic NW Meridian location.  Located on a quiet cul-de-sac less than a

Read More

Newly Remodeled 4 Bed 3 Bath Home On Boise Bench With Theater Room

Newly Remodeled 4 Bed 3 Bath Home On Boise Bench With Theater Room505 S. Bitteroot St Boise, ID 83704  $359,900  MLS: 98665177 Completely custom remodeled Repainted

Read More