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.