Mar 4
Financing 101- FHA Loan Changes
Categories: Scott's BlogThe Federal Housing Authority has released policy changes to its FHA loan program to become effective on April 5, 2010. Below is a summary of the changes:
~Mortgage insurance premium (MIP) to be increased to build-up capital reserves & bring back private lending.
~Update the combination of FICO credit scores & down payments for new borrowers.
~Reduce allowable seller concessions from 6% to 3%.
~Increased enforcement on FHA lenders.
March 4th, 2010 at 11:31 pm
great mortgage overview- financing updates are important, as things change daily -
March 17th, 2010 at 3:28 pm
Thank You for the help- FHA finanacing in kansas city real estate condo market is very important