Annual mortgage insurance premiums for Federal Housing Administration (FHA)-backed mortgages are lowering toward their pre-bust level, with FHA announcing on Monday another reduction, this time to 0.60 percent for most borrowers. The one-quarter point reduction is expected to save FHA-insured ... » Learn More about FHA Again Reduces Mortgage Insurance Premiums, Lowering Costs for 1 Million Households
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FHA Lowers Condo Owner-Occupancy Requirement in Win for Buyers
The Federal Housing Administration (FHA) has lowered its owner-occupancy requirement for condominiums, marking progress in an issue believed to be preventing homebuyers from entering the real estate market. The action, announced in a mortgagee letter issued this week, lowers the requirement from 50 ... » Learn More about FHA Lowers Condo Owner-Occupancy Requirement in Win for Buyers
