FHA to reduce Mortgage Insurance Premiums - helpful in Pre-Approvals for Alameda Landing, Ventana, and Barrington by Tri Pointe Homes

Hot off the Press! Word is - President Obama is supposed to announce a cut in the FHA mortgage premiums. We may see a reduction of 0.5% ( 0.5 percentage-point) reduction of Federal Housing Administration mortgage insurance premiums. This will bring the new insurance premium to 0.085 percent. We're expecting to hear more about this on Thursday, as Obama is expected to make his announcement in a speech in Phoenix. As we know - FHA is a large provider of mortgages for buyers, not just first-time home buyers, but anyone that does not have the down payment of 10-20% and that may have some credit challenges. FHA is most well known for it's 3.5% down payment requirement for purchases - where gift funds are an acceptable form of down payment. I'll provide more information as it's available - but to start the year off with exceptional interest rates, and to hear that the FHA loan may truly be back, it's looking like 2015 is going to be a great year to purchase a home!! For your PreApproval please visit http://www.teamnelsonfunding.com/ - also for updates on the market as well as more information related to interest rates you can visit my Daily Rate Lock Advisory at http://www.teamnelsonfunding.com/DailyRateLockAdvisory