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Why Obama Says Buying Your First Home Just Got More Affordable

Why Obama Says Buying Your First Home Just Got More AffordablePHOENIX – A new White House initiative could put hundreds of dollars back into the pockets of homeowners with mortgages through the Federal Housing Authority, President Obama says.Obama has directed the FHA to reduce the fees attached to government loans for home buyers by half a percent, from 1.35 to 0.85 percent. It may seem like a paltry figure, but the White House estimates the lowered premium will put $900 back into the pockets of the average borrower, annually. …

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