FHA is reducing its annual mortgage insurance premium (MIP) by 25 basis points for most new mortgages with a closing/disbursement date on or after January 27, 2017. New MIP rates will mostly be either 55 or 60bps vs recent MIP rates of 80 to 135bps.
Northstar Funding has identified all FHA mortgage loans with MIP rates currently above 80bps and particularly loans currently at 130 to 135 bps so you can effectively reduce your FHA MIP.
Call me today and we can go over the details. (800) 917-1595