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NEWS UPDATE: Obama Announces FHA Refinancing To Get Less Expensive

FHA to reduce annual mortgage insurance premiums by $900 per year for the average first-time homebuyer
Mortgage insurance savings applies for new home purchase or existing home refinance FHA loans
More than 800,000 FHA borrowers are projected to take advantage of these lower rates this year
Lowered premiums will create opportunities for 250,000 new homeowners to purchase a home in the next three years

Reference: http://www.whitehouse.gov/the-press-office/2015/01/07/fact-sheet-making-homeownership-more-accessible-and-sustainable

President announces FHA will LOWER Refinancing Costs!

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