FHA reduces Los Angeles FHA Mortgage Insurance
Today the Federal Housing Administration (FHA) announced they are reducing Los Angeles FHA Mortgage Insurance Premiums by 30 bps beginning March 20, 2023. All FHA Loans endorsed on that date or after will qualify for the reduced premiums. Endorsed means the process where FHA guarantees the loan for the Lender, not the date you begin or close your FHA Loan.
Here are the new Los Angeles FHA Mortgage Insurance Premiums for 2023:
| Base Loan Amount | LTV (Loan to Value) | MIP (BPS) | Duration |
|---|---|---|---|
| Less than $726,200 | ≤ 90.00% | 50 | 11 years |
| Less than $726,200 | > 90.00% but ≤ 95% | 50 | mortgage term |
| Less than $726,200 | > 95.00% | 55 | mortgage term |
| Greater than $726,200 | ≤ 90.00% | 70 | 11 years |
| Greater than $726,200 | > 90.00% but ≤ 95%> 95.00% | 70 | mortgage term |
| Greater than $726,200 | > 95% | 75 | mortgage term |
| Base Loan Amount | LTV (Loan to Value) | MIP (BPS) | Duration |
|---|---|---|---|
| Less than $726,200 | ≤ 90.00% | 15 | 11 years |
| Less than $726,200 | > 90.00% | 40 | mortgage term |
| Greater than $726,200 | ≤ 78.00% | 15 | 11 years |
| Greater than $726,200 | > 78.00% but ≤ 90.00% | 40 | 11 years |
| Greater than $726,200 | > 90.00% | 65 | mortgage term |
We have specialized in FHA Loans since 2007 and would be honored to share our knowledge and expertise to help you finance your next home.
Get Started Here
Ready to Get Pre-approved for your Home Loan? 2 easy ways to start - fill out the form below or give us a call/text at 760-752-4480.