The FHA cuts mortgage premiums for first-time home buyers by reducing mortgage premiums by half a percentage point from 1.35 percent to .85 percent. The FHA plays an important role for first-time buyers because it accepts lower FICO scores than other lenders and accompanies a low down payment.

Read more at: http://therealdeal.com/…/fha-moves-to-cut-premiums-for-fi…/…

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