Items Tagged with 'FHA mortgage insurance'

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  • New bill slashes FHA mortgage insurance for first-time homebuyers

    Borrowers who undergo counseling can get a discount on their upfront mortgage insurance
    The House passed a bill Tuesday that slashes the cost of upfront mortgage insurance for first-time homebuyers using mortgages backed by the FHA. The bill stipulates that first-time homebuyers who complete a housing counseling program to learn about sustaining homeownership can get a 25-basis-point discount on their upfront mortgage insurance for an FHA loan.
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  • House committee passes bill to make FHA loans less expensive

    Aims to limit mortgage insurance premiums for FHA borrowers
    The House Financial Services Committee passed a bill Wednesday that would limit mortgage insurance payments on loans backed by the Federal Housing Administration. The bill would repeal FHA's policy that requires borrowers to pay mortgage insurance for the life of the loan – something housing industry participants have lobbied for for years.
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