LendingPros is accepting submissions for qualifying FHA Loans submitted and scheduled to close on or after Wednesday, March 1, 2023. These loans are eligible to receive the annual MIP Reduction.
HUD recently announced a 30 basis-point reduction to the FHA Annual Mortgage Insurance Premium (annual MIP) rates charged to homebuyers who obtain an FHA-insured mortgage.
Take advantage of this opportunity to potentially qualify more borrowers with this reduction offered by HUD!
The reduction is effective for mortgages endorsed for insurance by FHA on or after March 20, 2023.
The FHA annual MIP reduction applies to all eligible property types, including:
Single family homes
Condominiums
Manufactured homes
All eligible loan-to-value ratios
All eligible base loan amounts
Refer to the current Mortgagee Letter for qualifying programs and exceptions.
FHA Programs
FHA Loan Programs
Highlights include:
Down Payment Assistance Programs
No payment 2nd
Fixed rate loan programs
Flexible terms
FHA Streamline refinances available (no appraisal needed)
Low FICOs make qualification more accessible
Available on our TPO portal technology where you can register, submit, and disclose in minutes.
