FHA Mortgage Insurance Premiums
New, lower mortgage insurance premium (MIP) rates will apply to mortgages insured by FHA on or after March 20, 2023. These rates were announced by HUD on February 22, 2023.
In this mini-class, James will discuss the improvements to FHA Mortgage Insurance Premiums, as well as their previous rates. Additionally, James will explain how this change could impact your cash flow if you decide to buy a property using FHA financing in the future, especially duplexes, triplexes, and fourplexes as a Nomad™ and/or house hacker.
Check out the video and interactive charts from this class here:
In this class, James discusses:
- What the FHA Mortgage Insurance Premium change is and when it goes into affect
- How much it will change cash flow on a typical real estate investor purchase
- What Private Mortgage Insurnace is
- What FHA Mortgage Insurance Premiums are (FHA MIP) and how much they are for a variety of situations
- Plus much more...