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House Passes Bill to Cut FHA Costs for First-time Homebuyers

Thursday, Jul 18 2019
Lending
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First-time homebuyers could end up paying less for mortgage insurance under a new bill passed by the House of Representatives. So reports the Columbus Dispatch.

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The legislation would slash the Federal Housing Administration mortgage insurance premium by 25 basis points for first-time homebuyers who finish a counseling course certified by the Department of Housing and Urban Development.

Sponsored by Democrat Joyce Beatty and Republican Steve Stivers, both of Ohio, the bill was approved unanimously and now heads to the Senate.

Read the full article from the Columbus Dispatch.

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