FHA Changes Announced

By
Mortgage and Lending with Farmers National Bank NMLS #728176

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.

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fha changes
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Rainer
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Craig Richardson
National Realty - McLean, VA

Liz, do they just not want to write any more loans?  Guess we should start petitioning Congress for some of that TARP money.

Jan 20, 2010 10:08 AM #1
Rainer
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Maurince Pierre
Premium Properties Real Estate Services - Orlando, FL
Because Experience Matters!!

when does this go into affect?

Jan 20, 2010 10:09 AM #2
Rainer
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Liz Schneider
Farmers National Bank - Grafton, OH

UFMIP changes become effective with case numbers ordered on or after April 5, 2010

seller concession changes no date yet

Feb 04, 2010 05:42 PM #3
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Rainer
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Liz Schneider

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