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This is a blog post that a friend of mine Matt Spinn put together and I think it is good information for people to know. Tim Holtkamp 254-662-2222 Before the conventional mortgage loan market collapsed, approximately 10% of home buyers utilized FHA financing. Conventional loans were king. Borrowers who had less than perfect credit and little money down could utilize the FHA programs to purchase a home. FHA required 3 percent down and the seller could contribute up to 6 percent in seller paid closing costs. A buyer who purchased a $200,000 home with the seller paying 6% in seller paid … (2 comments)
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