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FHA LOAN CHANGES COMING IN SPRING

The rumor is that FHA will be increasing the upfront mortgage insurance premium from 1.75% to 2.25% sometime in the Spring.  Also, the currently allowed seller concessions 6% will be decreased to 3%.  Last, if the borrowers FICA is 585 or less, the FHA downpayment will be increased to 10%.  Again, this information is a rumor but comes from a reliable source. Let's see what the near future reveals with regard to these issues.

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Russ Lyon | Sotheby's International Realty Flagstaff
2076 S Woodlands Village Blvd. Ste 101 • Flagstaff, AZ 86001
Phone: 928.853.4289 • Office: 928.679.2123
Fax: 888.241.6446


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