FHA Changes Announced

By
Mortgage and Lending with Dollar Bank NMLS #728176

HUD announced changes to the FHA loan program this morning.

 

Seller concessions lowered from 6% to 3% of sale price

Upfront mortgage insurance premium (financed) raised from 1.75% of base loan amount to 2.25% of base loan amount.

 

First Place Bank has to DE underwriters on staff to take care of your FHA/VA or USDA Rural Housing loans!!

USDA rural housing loans are 0 downpayment & 0 Private mortgage insurance- program is property location based- no areas in Cuyahoga or Summit counties are eligible. Call for more details- 440.452.3894.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Ohio
Tags:
fha changes
usda rural housing loans

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
104,786
Craig Richardson
National Realty - McLean, VA

Liz, do they just not want to write any more loans?  Guess we should start petitioning Congress for some of that TARP money.

Jan 20, 2010 10:08 AM #1
Rainer
16,066
Maurince Pierre
Premium Properties Real Estate Services - Orlando, FL
Because Experience Matters!!

when does this go into affect?

Jan 20, 2010 10:09 AM #2
Rainer
10,382
Liz Schneider
Dollar Bank - Avon, OH

UFMIP changes become effective with case numbers ordered on or after April 5, 2010

seller concession changes no date yet

Feb 04, 2010 05:42 PM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
10,382

Liz Schneider

Ask me a question
*
*
*
*
Spam prevention