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FHA 2017 Mortgage Insurance PremiumsBreaking news – HUD announced on Monday, January 9th, 2017 that FHA will be lowering their monthly mortgage insurance premiums beginning January 27th, 2017. The monthly mortgage insurance premiums will be reduced from .85% to .60%.

As the nation’s housing market continues to improve, so will mortgage guidelines. HUD’s move to lower mortgage insurance is a great indication of more positive news to come. Remember, we’ve already seen the USDA lower their mortgage insurance and funding fee requirements, as well as Fannie Mae raising the county loan limits across the nation!

What Does This Mean To You?

The main benefit you’ll see from this is a savings on your monthly payment. However, I’ve put together a report for you below where you’ll be able to see the Total Cost of the savings over 5 years and 15 years, AND what these changes will do to impact home affordability!


New FHA Home Loans Facts

– FHA’s upfront mortgage insurance premium remains 1.75% (typically financed into the loan)
– FHA’s new monthly mortgage insurance premium is reduced from .85% to .60%
– FHA allows for a min 580 credit score
– Non-occupant co-borrowers are allowed (co-signing)
– FHA allows for owner occupied purchases of duplex or tri-plex homes
– FHA also allows for down payment assistance with State Housing Authority (see Dan)

So, What Do I Do Next?

The best thing that you can do if you are thinking about buying a home this year is to set up a mortgage planning meeting with me. This first step is to get pre-approved – let me take a deep look into your credit, your income, and help you design a mortgage budget.

To get pre-approved for one of these home loan programs, visit my mortgage concierge page at

Or to speak directly with me, call/text me at 425-350-7136.  You can always email me at

Want to know more about me?  Visit my Yelp page to see what others say….

Professional - "Why I Work with Dan Keller"

Dan Keller – Lic # MLO 115349
Mortgage Advisor/Branch Manager at
CrossCountry Mortgage, Edmonds, WA
8129 Ballinger Way Suite 105
Edmonds, Wa 98026

NMLS Consumer Access

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