The changes on FHA loans and how they will affect borrowers and sellers
Seller concessions What are they? Contributions that sellers kick in to help defray a buyer’s costs. They can include closing costs, inspections, appraisals and free upgrades. What’s changing? The FHA proposes slashing allowable seller concessions in half, capping them at 3 percent of the home pr… Federal Housing Administration – Business – United States – Mortgage – Financial Services
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The changes on FHA loans and how they will affect borrowers and sellers
Upfront insurance premium What is it? A fee the Federal Housing Administration collects from borrowers that can be paid in cash at the closing table or rolled into the loan. Federal Housing Administration – United States – Business – Mortgage – Financial Services
Read more on Washington Post
The changes on FHA loans and how they will affect borrowers and sellers
Seller concessions What are they? Contributions that sellers kick in to help defray a buyer’s costs. They can include closing costs, inspections, appraisals and free upgrades. What’s changing? The FHA proposes slashing allowable seller concessions in half, capping them at 3 percent of the home pr… Federal Housing Administration – United States – Business – Mortgage – Financial Services
Read more on Washington Post