HUD recently announced a quarter-percent reduction in mortgage insurance premiums (MIPs) on certain FHA loans. According to HUD, home buyers can save an average of $500 per year on mortgage insurance. The agency expects a million first-time buyers to benefit from the cost reduction in 2017.
This change in MIP may offset recent rate increases and make it easier for your prospective buyers to qualify for the home they really want.
Please see the list of FHA qualifying homes in San Diego County Below: