The new change reduces the required annual FHA mortgage insurance premium from 1.35% to 0.85%. This lowers the cost of insurance for FHA loans and could mean a lower monthly payment for your customers.
What could this mean for you?
The new FHA premium could result in saving more than two million FHA homeowners an average of $900 annually* and will allow qualifying first time home buyers to enjoy the benefits of a more affordable FHA loan with lower costs.
HUD.GOV Press Release - HUD No. 15-001