A new analysis from RealtyTrac reveals how much FHA borrowers will save with the reduction of annual mortgage insurance premiums, HousingWire reports.
The administration said that the premium cut would save the average first-time homebuyer $900 in their annual mortgage payment. The RealtyTrac study found that the number varies between counties, with some raking in savings greater than $900, while others fall far below the $900 threshold.
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