Real estate blog entries tagged with fha guidelines by DeAndrea "Dee Dee" Jones, DMVRealEstateChick (Samson Properties)

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fha guidelines: FHA buyer Guideline changes for Feb 1st, 2010 attention Hampton Roads - 01/31/10 02:00 AM

It is important for everyone to know that FHA Guidelines for new loans will change again around Feb 1st, 2010. This will effect new buyers and those trying to sell a home.
Changes are designed to help stabilize the market but the effect is to be determined.
The changes include:
1.Increase the up-front mortgage insurance premium (MIP) to 2.25%; 2.Update credit score and down payment requirements for new borrowers; (check with your loan officer) 3.Reduce seller concessions to three percent, from six percent; and 4.Implement a series of significant measures aimed at increasing lender enforcement.
Obviously these changes will:
For new buyers- you … (2 comments)

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