Friday, January 22, 2010

FHA incentive to buy Now!

If you were planning to go the FHA loan route when buying your house, you might want to move quickly...

The Federal Housing Administration is strenthening thier reserves... but what this means for the average homeowner is tighter criteria & higher PMI rates...
  • MIP, mortgage insurance premium will increase.
  • Higher Credit score required
  • Seller concessions lowered from 6% to 3%
Just another reason for buyers to make their move NOW!
Here are some more details on it... or contact one of our preferred lenders now to get prequalified... For all other real estate questions for the Lake City area, feel free to call or email.

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