208-254-2090
208-639-9730

FHA to lower cost of mortgage insurance

January 20, 2015

Source: money.cnn.com By Chris Isidore

In an effort to make owning a home more affordable, the Federal Housing Administration will dramatically cut the costs associated with the mortgages it backs.

Premiums for FHA mortgage insurance, which is designed to protect the agency in case a borrower defaults on a loan, will be cut from 1.35% of a loan's value to about 0.85%, the White House said in a statement Thursday.

As a result, a typical first-time homebuyer will save $900 a year on their mortgage payments. Existing homeowners who refinance into an FHA loan will see similar savings.

"Too many creditworthy families who can afford -- and want to purchase -- a home are shut out of homeownership opportunities due to today's tight lending market," the White House said.

The White House estimates that the lower premiums will enable up to 250,000 new buyers to purchase a home.

To continue reading click here

  • Zillow 5 Star Review  Throughout our entire process of buying a home, Stephanie was not only an incredibly skilled realtor, but an incredibly kind and genuine individual. She taught us things about the Home buying process we didn’t know, and was never less than a phone call away. We are first time home buyers in a very...

    dleoni03
    June 3, 2020

    Zillow 5 Star Review  Stephanie is very personable. She has the ability to connect with you, and make you feel comfortable. She knows the Boise area in and out. She will always respond quickly and politely. Overall, the best realtor I have ever had.

    devon bothamley
    March 9, 2020

    Zillow 5 Star Review  Stephanie made selling our home such an easy and stress free process. She is very knowledgeable and is thorough and timely in her communication. Each step was explained as we went through the process so we knew what to expect. She had our best interest in mind the whole time. I would highly...

    user1459640
    October 22, 2020
  • Zillow 5 Star Review  Stephanie was instrumental in finding and closing on the perfect house for us, her expertise were invaluable given the extremely challenging sellers market we found ourselves in.

    mattjerry16
    August 27, 2020

    Zillow 5 Star Review  Chrissie was the best to work with! She helped us find our home effortlessly and no surprises at closing. She really sought to understand what we were looking for and didn’t disappoint. ?? ?? ?? ?? ??

    Jo maup
    June 23, 2020

    Zillow 5 Star Review  We could not be happier with Sheila and her team. She was beyond responsive and attentive to our needs. As a former realtor and local professional, I was grateful for Sheila's attention to detail, knowledge of the market, integrity, and professional guidance. Sheila is a class act and we couldn't...

    Haley Chance
    May 22, 2020
  • Zillow 5 Star Review  We're not giving Chrissie 5 stars because she was referred by a close family friend (coincidentally also a ReMax realtor) and we're not giving her 5 stars to be kind. Chrissie flat out EARNED her 5 star rating.
    My husband's mother passed away unexpectedly and the emotional task of selling her home...

    swimkmk
    April 29, 2020

    Zillow 5 Star Review  Stephanie is the epitome of “on top of it”! She was absolutely amazing throughout this entire process and was able to find me a home (an off market, “for sale by owner” home) in a beautiful area where I never thought I’d be able to afford a home! She was on top of the seller the whole time, and...

    maggi loftus
    June 6, 2020

    Zillow 5 Star Review  Definitely helped us with locating the perfect house. Listened to us and what we were looking for and what areas we would like the best. Also has been a great help with setting up things while we are delayed with our move.

    castos55
    April 3, 2020
  • Zillow 5 Star Review  With the help of Sheila Smith's expertise, the selling process was exceedingly simple, straightforward, and expedient. I would not hesitate to use and/or recommend her services.

    glennbeyerman
    June 26, 2020

    Zillow 5 Star Review  Sheila helped us get our house sold with us being in another state, something I took on with trepidation. She was able to guide us through what improvements would help our home be it's most inviting and ready to welcome a new family. Sheila is personable, wise, and professional.

    She has an amazing...

    maidofgrace44
    February 26, 2020

    Zillow 5 Star Review  Sheila was a pleasure to work with and always available to show us a potential home. We looked at a few and she offered great advice on the pros and cons of any potential offer. When we had an offer accepted, she made the process really easy and as stress free as possible.

    steveallday
    July 25, 2020
  • Zillow 5 Star Review  Stephanie was GREAT!!! Her knowledge and experience made the home buying process smooth and easy. She is quick to respond and prioritizes her clients. Stephanie made shopping for a home fun and stress free. We couldn’t have asked for better, more dedicated realtor!

    katrielansah
    April 17, 2020

    Zillow 5 Star Review  Her team is amazing, she staged the house and we had an offer within three weeks during COVID19. Her responsiveness to any concerned I had were unmatched. She recommended great contractors to help sell our home.

    sberkeley
    June 5, 2020

    Zillow 5 Star Review  As an out of state, first-time investment buyer, we didn’t know where to start looking. Working through this process remotely, we found Chrissie to be a true resource due to her local (Boise and surrounding) area expertise. She took work and stress out of the process by listening to our needs and...

    jenny 320
    February 4, 2020
Sheila's goal is to not only retain every client's business for life, but leave them so happy with her service that they are compelled to refer her to everyone they know. Her success stems from working hard for all of her clients and having fun during the process.
HomeTeamRecommendationsToolsArticlesContact
Privacy PolicyTerms & Conditions
© Copyright 2020 - Sheila Smith Real Estate Group - All Rights Reserved.
facebooklinkedinbuilding-omobileinstagrampinterest-p