fha: Warning: Changes in Seller Subsidies with FHA - 05/29/10 03:52 AM
Soon, the Federal Housing Administration will be reducing one of its benefits for buyers using FHA financing. It's been annonce that sometime later this summer, the agency will reduce the maximum seller consessions allowed. These guidelines have provided a negotiating tool to help many a buyer who struggles to come up with more than the 3.5 percent down payment to purchase a property. They can request sellers to pay some or all of their settlement costs.
The maximum allowed seller consession is currently six percent of the purchase price. But soon this will be reduced to three percent, the same amount … (7 comments)

Ed Schneider, Washington DC Real Estate Specialist (Evers & Co. Real Estate Inc.) Rainmaker large

Ed Schneider

Washington DC Real Estate Specialist

Washington, DC

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Evers & Co. Real Estate Inc.

Office: (202) 277-9499

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