FHA BUYERS ATTENTION
If you are planning on utilizing the FHA program for financing the purchase of your next or first home then you need to be aware that changes are coming soon.
Effective February 1st, FHA will require you to put more money down and there will be a mortgage insurance premium increase and the allowable seller credit will decrease.
If you have not purchased yet you still have time to get an accepted offer this week and get a FHA number from your loan agent ASAP. If you are already in escrow and working with your loan agent, check to make sure you are far enough in the process and will benefit from the current regulations.
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