June 13, 2024

How Many Years Will I Pay FHA Mortgage Insurance? The Answer May Surprise You

Since being created by Congress in 1934 the Federal Housing Administration (FHA) has insured over 34 million mortgages on single family homes.  The low down payment requirement and relaxed credit standards of the FHA have allowed millions of people to achieve the dream of home ownership. While the advantages of an FHA mortgage are compelling […]

FHA Mortgage Insurance Very Costly For Borrowers

FHA mortgage insurance is charged to borrowers to cover the cost of losses on defaulted mortgages.  The annual premium paid by a  borrower on an FHA loan has become very costly, amounting to thousands of dollars a year for many borrowers. Effective April 18, 2011, the the annual FHA mortgage premium was increased as the […]