Are you and your first time home buyers familiar with the HAWK program?

Are you and your first time home buyers familiar with the HAWK program?

 

It has been estimated that consumers can save close to $10,000 during the life of a typical FHA mortgage loan if they take advantage of the HAWK program for first time home buyers. This program is designed to reduce the cost of mortgage insurance premiums.

“The program, called Homeowners Armed with Knowledge (HAWK), was announced last month by the FHA as way to curtail home buyers' mortgage insurance premium costs. FHA is operating under the assumption that the more borrowers understand about home ownership, the less likely they are to default on their loans, thereby decreasing their lending risk.” – Daily Real Estate News

View more information about the HAWK program at HUD's website.

Consumers are required to enroll in housing counseling classes to take advantage of the discount.  The courses will be taught by agencies approved by the U.S. Department of Housing and Urban Development. FHA hopes that borrowers will be able to apply for the program by the end of the year.

Source: “FHA Offers First-Time Homebuyers Discounted Loans for Taking Class,” RISMedia (June 14, 2014)

 

 

 

Imagination, Kentlands Photowalk IMG 6932A

Photograph by Roy Kelley

Roy and Dolores Kelley Photographs

Roy and Dolores Kelley Photographs

Roy Kelley, a real estate broker since 1960, has retired from his position as Associate Broker with RE/MAX Realty Group in Gaithersburg, Maryland. The needs of past clients and referrals will be met by long time associates.