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FHA PMI

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Anonymous
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FHA PMI

So Trump stopped the mortgage insurance premium cut that was supposed to take effective 1/27/17.. for those of you that are close to closing using FHA, what are your lenders predicting as far as the suspension, do they think the pmi will still get reduced ?

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ShanetheMortgageMan
Super Contributor

Re: FHA PMI

Lenders don't predict anything, they just implement policies/guideline changes to the loan programs they offer.  Unless an announcement from HUD/FHA has been made, I wouldn't factor in a possible mortgage insurance change into your plans.  As for me, I think after the new HUD Secretary reviews their finances/budget then they will revisit the possibility of reducing FHA's mortgage insurance... but that could be months from now.

Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states
Message 2 of 3
DallasLoanGuy
Super Contributor

Re: FHA PMI

i agree with shane.... will be some time if they do it

 

Retired Lender
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