Fannie and Freddie makes Indiana FHA and easy choice

I got good news and bad news….

OK, first the good news…mortgage rates are down and housing prices are lower — which is fantastic for many buyers and those looking to refi.

Please click over to my updated blog post @ the Mad Mortgage Machine, it will open a new window

Please read this carefully, that the over all effect of the underwriting guidelines, credit score and pricing changes will simply push some people who are able to buy a house right out of the market.

These new rule changes are just plain ridiculous…well there is still some good news for the Indiana home buyer and those looking to refi their Indiana home.

The Indiana FHA Program:

• Indiana FHA does not require a huge down payment, just 3.5% will do.
• You can still get the home seller to pay all of your closing costs up to 6% of the sales price.
• No silly add-on fees from Fannie or Freddie this is a US Gov’t backed loan
• It is a great option for the Indiana First Time Home Buyer