New Bill Slashes FHA Mortgage Insurance for First-Time Homebuyers

July 11, 2019

HousingWire, July 10, 2019--Jessia Guerin
The House of Representatives passed a bill Tuesday that slashes the cost of upfront mortgage insurance for first-time homebuyers using mortgages backed by the Federal Housing Administration. The Mortgage Bankers Association applauded the bill's passage. "MBA has long advocated for increased access to housing counseling as a means to provide a more positive experience for first-time homebuyers unfamiliar with the homeownership process, as well as for other underserved communities," MBA said.

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