The FHA rate cut explained

Source: Andrew Khouri, L.A.Times (Paid Registration)

On Friday, the Trump administration suspended a pending rate cut to FHA mortgage insurance that the outgoing Obama administration announced just a week earlier.  The Federal Housing Administration is a government agency that insures home loans and collects fees from borrowers to reimburse lenders in the case of default.

For most borrowers getting an FHA-backed loan that means that after paying an upfront insurance fee, you will pay 0.85% of your loan amount for premiums each year. The Obama administration had planned to drop that rate to 0.60%.

Read Full Article: The FHA rate cut explained

 
 

Quick Menu

Support Consumer Action

Support Consumer

Join Our Email List

Optional Member Code
Facebook FTwitter T

Housing Menu

Help Desk

Advocacy