Lower PMI: What it means to you, the buyer.

As you may have heard, the Federal Housing Authority has lowered mortgage insurance premiums from 1.35% to 0.85%.  This means that the average FHA borrower will save $80 on their monthly payment, or $960 a year.  With interest rates hovering around 4 to 5%, and the extra savings in PMI reduction, it’s a great time to buy a home.

For more information, visit http://www.cnbc.com/id/102318078#

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