FHA Monthly MIP Reduced in 2017!
Effective January 27th, the monthly Mortgage Insurance Premium (MIP) on FHA Home Loans is reducing by a quarter point. That means more affordability for FHA Buyers going forward. With the FHA loan limit being $275,665 here in Maricopa County, that would save someone $689 annually when maxing out their FHA loan.
With prices on the rise along with interest rates, this helps to open up more options for buyers trying to get into home ownership in 2017.
There are many financing programs and options available so give us a call to find out what might be best for your personal circumstances.