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As a seller, do you listen to your listing agent's advice about potential buyer's financing offers with FHA Loans?
Financing your Springfield Missouri home in today's market may prove to be more difficult than you thought.  FHA is getting ready to reduce the amount paid by the seller to only 3% of the selling price.  Jeff Belonger has information that will help every home seller make informed decisions when they receive an offer with the buyer using FHA financing.

 

Sellers, don't accept offers from a buyer with FHA financing. Wait, don't accept offers with VA financing. Wait, don't accept offers with conventional financing. Gee, you might as well wait around for a cash buyer.
FHA loans are not a bad thing. It could just be that your listing agent isn't familiar with FHA mortgages, or maybe had a bad experience once before, or that they are afraid that the house might not pass a FHA appraisal. In my opinion, I just think the listing agent is flipping a coin on your property and it could cost you thousands of dollars.
I have been hearing negative things about FHA loans since I first got into mortgages back in 1992. But what prompt me to write about this again was after reading a comment by Sally Cheesman in her ... more

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