Real estate blog entries tagged with fha proposed changes by Lori Cain - Midtown Tulsa Real Estate www.tulsahomeforsale.net 918-852-5036 (Chinowth & Cohen Realtors )

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Home : Blogs : Lori Cain - Midtown Tulsa Real Estate www.tulsahomeforsale.net 918-852-5036 : Lori Cain Midtown Tulsa Real Estate : Tag "fha proposed changes"

fha proposed changes: FHA Considering “Tightening the Belt” – do not make it harder for buyers to borrow! - 12/08/09 02:58 PM

FHA Considering “Tightening the Belt” – do not make it harder for buyers to borrow!
The FHA reserves are below the required minimum, and here are some of the Housing and Urban Development (HUD) Secretary Shaun Donovan’s recommendation to correct that issue:
Raise the required minimum down payment from 3.5% to 5% Lower the maximum seller contribution from 6% to 3% Establish a required minimum credit score Eliminate the ability to finance the Up Front Mortgage Insurance Premium (UFMIP) into the loan Raise the cost of FHA mortgage insurance (higher premiums) According to Vicki Cox Golder, President of the National Association … (6 comments)

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Lori Cain - Midtown Tulsa Real Estate www.tulsahomeforsale.net 918-852-5036

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