This reduction will mean more qualified buyers, more loan approvals and more sales. If you’re thinking about waiting another year, you may want to reconsider this decision. Buyers will face more competition next year as a result of this cut.
“A 0.50% cuts sounds small but on a $250,000 mortgage it amounts to a $104/month savings!”
The MIP reduction is expected to fuel up to 250,000 additional home sales this year alone.
Lowered premiums could help more homeowners save on their monthly mortgage costs, estimated at an average household savings of up to $900 per year.
Contact us for recommendations to local mortgage professionals who can deliver this cost savings.