If you need assistance, please call 909-921-1012

Sahar Moghadam | The CSG LIVING GROUP Blog

Monday, January 09, 2017   /   by Sahar Moghadam

HUD Lowers FHA Mortgage Insurance By a Quarter Point!

Thank you to Realtor Magazine for writing this great article! 

Mortgage insurance premiums on FHA-backed loans will be lower by 25 basis points on loans endorsed starting January 27, the federal government announced today.
“After four straight years of growth and with sufficient reserves on hand to meet future claims, it’s time for FHA to pass along some modest savings to working families,” Julian Castro, secretary of the U.S. Department of Housing and Urban Development, announced today.

The new premium schedule, which takes effect for residential mortgage loans that have an insurance endorsement date on or after January 27,  is expected to save the average home buyer $500 a year in insurance costs.NAR President Bill Brown praised the move. “Dropping mortgage insurance premiums will mean a lot more responsible borrowers are eligible to purchase a home through FHA,” he said. “That puts more money in the fund to protect taxpayers, and ...

Read More

Cesar Gomez
618 N Diamond Bar Blvd
Diamond Bar, CA 91765
DRE# 01876957

LICENSE # 01526842

Sahar Moghadam
618 N Diamond Bar Blvd
Diamond Bar, CA 91765
DRE #01929595

Based on information from California Regional Multiple Listing Service, Inc. as of October 23, 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.