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 […]
How Many Years Will I Pay FHA Mortgage Insurance? The Answer May Surprise You
December 1, 2015 Leave a Comment Filed Under: Benefits of FHA Mortgage, FHA loan, FHA mortgage, FHA Mortgage Insurance
FHA Mortgage Insurance Very Costly For Borrowers
June 17, 2011 Filed Under: FHA Mortgage Basics, FHA Mortgage Insurance
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 […]