The FHA reduced its single-family mortgage insurance premiums by .50% in 2015. What this means to you? Current FHA homeowners with loans originated prior to January 2015, could be able to save more than $900 a year on their monthly mortgage insurance premiums.
In order to receive the lower mortgage insurance premium benefit, FHA home loan customers must refinance, so we offer a no closing costs FHA Streamline refinance that requires minimal documentation. Other benefits could include lower interest rates and lower monthly principal and interest payments.
With our FHA refinance program, you have the opportunity to save money that you can put back into improving your single-family home, taking care of any other financial obligations you have or save for your retirement! We at Alliance Home Loans, want you to have the absolute best and most affordable loan possible, and informing you of changes and new programs in the industry is a large part of that.
Find out if the FHA Payment Reduction Program is right for you with our mortgage check up calculator.