FHA and VA Loans Just Got Better!
Are you ready to take the next step in homeownership? Well, we’ve got some exciting news that could potentially make your dream home even more affordable right now!
The Federal Housing Administration has announced a reduction in annual mortgage insurance premiums, or MIPs, on single-family residences. If you’re a homebuyer with a lower down payment or less-than-perfect credit score, FHA loans might be the perfect fit.
What does this mean for you? It means a lower mortgage insurance premium over the term of the loan, making homeownership more affordable upfront and throughout the life of the loan. Sounds like a win-win, right?
But wait, there’s more! If you’re a veteran applying for a VA loan, you’ll be happy to know that the VA has also reduced their Funding Fee for both first-time and subsequent use. This can provide increased purchasing power and help decrease your monthly expenses when buying a home.
We know that all the terms and moving parts of the loan process can get overwhelming, but don’t worry — we’re here to clarify and answer any questions you may have about MIP, Funding Fee, and the entire loan process. Our goal is to make homeownership a reality for you without any added stress.
So, what are you waiting for? Take advantage of these exciting updates and let’s make your homeownership dreams a reality!