Zuber Realty

  • Selling
  • Buying
  • News & Tips
  • Agents & Offices
    • Meet Our Team
    • Boyertown Office
    • Royersford Office
  • More…
    • Open Houses
    • Communities
    • Zuber Commercial
    • Rentals
    • Property Management
    • Careers
    • About Us
    • Contact Us
  • Login
More search options...
Click Here for Broker Compensation Information
Home > Home Buying > FHA Makes Homeownership More Accessible with Lower Mortgage Insurance Premiums

FHA Makes Homeownership More Accessible with Lower Mortgage Insurance Premiums

April 25, 2023 By Connie Dolansky

If you’re in the market to buy a home, you’ve probably researched all of your financing options. One option is a Federal Housing Administration (FHA) backed mortgage loan. The FHA is a government agency that helps homebuyers by insuring their mortgages. This makes it easier for borrowers to get approved for a loan and reduces the risk for lenders.

The FHA recently announced that it lowered its mortgage insurance premiums. The lower premiums will cut mortgage insurance costs by 30% for homebuyers saving FHA loan borrowers an average of $800 annually. This savings helps make buying and owning a home more affordable.

Mortgage Insurance

Mortgage insurance is an additional expense that is required for most loans where the down payment is less than 20% of the purchase price. This insurance protects the lender in case the borrower defaults on the loan. The premium is typically added to the monthly mortgage payment, which can make the loan more expensive over time. While the mortgage insurance attached to some loans goes away after the homeowner pays off a certain amount of their loan balance, the mortgage insurance tied to FHA loans remains until the entire mortgage is paid off unless the buyer puts down at least 10% at the time of purchasing the home.

FHA Mortgages

FHA mortgages are intended for low and middle-income homebuyers. They require lower down payments and have more flexibility on credit requirements than conventional mortgage loans. This reduction in premiums could make FHA loans even more attractive to homebuyers. By reducing the cost of mortgage insurance, the FHA is helping to make homeownership more accessible for more people.

New FHA Mortgage Insurance Premiums

The new FHA mortgage insurance premium rates were effective as of March 20, 2023. Those affected by the new rates are current homeowners who are FHA borrowers refinancing their FHA loan and homebuyers who are purchasing a home using a FHA loan.

If you are considering a FHA loan, it’s important to work with a lender who has experience with these types of loans. They can help you understand the requirements and benefits of a FHA loan and help you decide if it’s the right financing option for your situation.

Filed Under: Home Buying

We Work for You!

When you create an account with us, you can save searches and properties, and receive email updates whenever new or changed listings meet your saved searches!

Sign Up

Nearby Communities

Row Homes in Pottstown

Pottstown

With easy access to major routes, shopping, and affordable housing, Pottstown is a natural draw for new home buyers and investors alike. A variety of housing options are available in Pottstown’s tree-lined streets—row homes, multi-family homes, single-family detached houses, and more. On the north end of Pottstown, you’ll discover the green lawns and tall trees…
[Read more]

Pottsgrove

If you’re looking for a home in a quiet, leafy suburb with easy access to major routes and good shopping and schools, it’s time to check out homes in Pottsgrove. Upper Pottsgrove Township and Lower Pottsgrove Township, located in the northwestern corner of Montgomery County, have all of this! Hometown Fun People in Pottsgrove believe…
[Read more]

North Chester County housing development

Coventry and Vincent Townships

Northern Chester County is a rural area with rolling hills, scenic views and horse farms. The area provides a variety of ideal living experiences. The Coventry and Vincent Townships are comprised of North Coventry, South Coventry, East Coventry, East Vincent, and West Vincent Townships. They are communities with a rural feel with rolling hills, scenic…
[Read more]

We Work for You!

Zuber Realty, your local real estate partner, helps you find, sell, or rent homes in Boyertown, Pottstown, Royersford, Morgantown or Red Hill. Montgomery, Berks, Chester, Bucks, Lancaster and Lehigh counties

Connect with Us

  • Rss Feed
  • Facebook
  • LinkedIn
  • YouTube
  • Email

Richard A. Zuber Realty

201 East Philadelphia Ave
Boyertown, PA 19512

Boyertown office: (610) 369-0303
Royersford office: (610) 948-7300


All information deemed reliable but not guaranteed and should be independently verified. · Consumer Notice · Privacy Policy Copyright © 2008–2025 Zuber Realty · Site Design by Delos Incorporated