As the nation’s housing market continues to improve, U.S. Housing and Urban Development announced on January 9, 2015 the Federal Housing Administration (FHA) will reduce the annual premiums new borrowers will pay by half of a percent. The reduced annual mortgage insurance premium (MIP) rates will apply to FHA-insured purchase and refinance loans with loan terms greater than 15 years. It is estimated, that this policy change could save the average homebuyer $900 a year, help 800,000 borrowers who refinance to reduce their monthly mortgage payment, expand the credit box for 250,000 new homeowners who were previously shut out due to the higher premium costs, and increase mortgage credit availability to creditworthy borrowers.
OneTrust Home Loans is an approved FHA Direct Endorsement Lender. We are offering a $1,000 closing credit to the first 500 borrowers and $500 or the next 1,000 borrowers who want to take advantage of this significant savings. For complete mortgage loan program details and to find out if you qualify, contact us today at 888-488-3807 or go to http://bit.ly/1xZsvSe.