January 22, 2015

The Federal Housing Administration recently announced changes to FHA mortgages originated after January 26th and the biggest news is the reduction in monthly private mortgage insurance from 1.35% annually to .85%. 


“So, why is this big deal?”, is a fairly common question I received when this news was screamed from the rooftops last week.  The reason lowering the PMI (Private Mortgage Insurance) rate is a big deal is because it allows potential homebuyers who were already leery of an FHA mortgage because of the high PMI rate can afford and are more willing to look into an FHA mortgage.  The benefit of an FHA mortgage is that a homebuyer with very little money to put down on a house can put as little as 3.5% to purchase the home. For example, if you want to buy a $100,000 house, you can put as little as $3500 down.  This opens the door to homeownership to many more people.


In addition to helping new homebuyers, current FHA mortgage holders can refinance to lower both their interest rate and PMI potentially saving them hundreds of dollars a month.  They don’t even need an appraisal or to verify income to do this special refinance. 


Could you benefit from this? Let’s find out!


Call/text me at 740-398-4917 or email zwilliams@usavingsbank.com



Zachary M. Williams 

"Your Mortgage Coach"


Union Savings Bank

3550 Dublin-Granville Rd.

Columbus, OH 43235

Work: (614) 339-2132
Cell: (740)398-4917



Please reload

Featured Posts

As Prices Rise, Pre Approval is Wise

February 3, 2017

Please reload

Recent Posts
Please reload

Follow Us
Please reload

Search By Tags
Please reload

  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square


O: 614-602-3646

C: 740-398-4917








State Bank

4080 W Dublin-Granville Rd

Dublin, OH 43017

The State Bank and Trust Co. and its loan officers, are not liable for information, claims or agreements made by/between the public and third-party entities. These third-party entities may include, but are not limited to: builders, developers, or real estate agents. Even though the loan officer co-sponsoring this site makes efforts to update the information contained, much of it is provided by independent vendors and data feeds, and thus, this site may contain errors, outdated information or purchase conditions, promotions, incentives and/or possible omissions. The State Bank and Trust cannot guarantee the accuracy of information provided, and we encourage buyers to complete their own due diligence in making a decision to build or purchase a home. We also suggest that you seek the professional representation/advice of a licensed Realtor®, as well as any other licensed professional that is appropriate to your purchase decision, including, but not limited to: attorney, accountant, or certified financial planner. Visitors to this site are responsible for the use and decisions made regarding the purchase of a home with regards to the information contained herein. The State Bank and Trust Co. is an Equal Housing Lender. 

Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines and are subject to change without notice based on applicant's eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. Terms of any loan may be subject to payment of points and fees by the applicant. The State Bank and Trust is an Equal Opportunity Lender. | Privacy Policy