Great news for borrowers! With the recent announcement of the reduction of FHA annual Mortgage Insurance Premium (MIP), Plaza Home Mortgage® will apply the new MI factors to FHA loans effective Monday, February 27, 2023.
New MI factors will be applied to:
- All loans closed on February 27 or after
- All existing pipeline loans will have the new MIP applied (excluding Reverse and Streamlines)
Any new loans created in BREEZE starting February 24, 2023, will reflect the new MI factors.
This is a great opportunity to reach out to those potential FHA buyers who may be on the fence!
Reach out to your Plaza Account Executive if you have any questions, or email us at firstname.lastname@example.org.