New bill slashes FHA mortgage insurance for first-time homebuyers

July 11, 2019

HousingWire--Jessica Guerin

The House of Representatives passed The Housing Financial Literacy Act of 2019, or H.R. 2162, providing that first-time homebuyers who complete a housing counseling programmay receive a 25-basis-point discount (0.25%) on their upfront mortgage insurance for an FHA loan.

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