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%
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.