Good news for home buyers in New Orleans. The premiums for FHA private mortgage insurance (required on all FHA loans) is dropping from 1.35% of a home’s value down to 0.85%.
This will result in about a $900 per year savings on mortgage payments for FHA borrowers and people who refinance into an FHA insured loan.
Need an FHA lender? Call us at 504-327-5303 and we’ll refer you to a local mortgage provider that knows the ins and out of FHA financing.