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HUD announced that it is lowering the annual mortgage insurance premium (MIP) on FHA loans that close on or after January 27, 2017. Lowering the annual FHA MIP reduces the ongoing monthly cost for borrowers with FHA mortgages and makes the FHA program more competitive with other low down payment mortgage options such as the […]
2017 brings higher loan limits across the board for conforming, FHA and VA mortgages. This is the first year since 2006 that the standard loan limits increased for these mortgage programs. The higher loan limits reflect a recovering housing market and modest home price appreciation over the past several years. After eight long years, the […]