HUD is Tightening UP-BIG TIME!!! BUY NOW!!!

Changes are coming to FHA, and they're not favorable to ease of home buying. There is no set date yet, but here's the short story:


Upfront MIP(Mortgage Insurance) will increase from 1.75% to 2.25%

Update to FICO scores and LTV maximums (620 minimum marketable, but down payment may increase to 5%)

Seller contributions will be reduced from 6% to just 3% to be in line with conventional markets

Increased audits of FHA lenders

As in so many things, the government appears to be attempting to regulate and stimulate the marketplace at the same time, without regard to consequences.


Thinking of buying, or selling??? Don't wait for the Government to make more regulations to the market they have tried to stimulate.



"The only competition worthy of a wise man is with himself"

-Anna Jameson



Lindsay Saunders, Realtor, REO Certified Specialist



Keller Williams Greenville Central Partners



864-607-0479 Direct



Saunders@kw.com



http://www.greenvillerealestategirl.com/