LoanStream 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:
Refer to the current Mortgagee Letter for qualifying programs and exceptions.