Comments on: New FHA Home Mortgage Guidelines for April 2010 http://www.dougfrancis.com/2010/02/new-fha-home-mortgage-guidelines-for-april-2010/ Doug's real estate blog in Vienna and McLean, Fairfax and Arlington with a little humor too. Easy MLS Search too. Fri, 30 Jul 2010 14:55:50 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Ken Montville http://www.dougfrancis.com/2010/02/new-fha-home-mortgage-guidelines-for-april-2010/comment-page-1/#comment-368 Ken Montville Mon, 08 Feb 2010 19:29:56 +0000 http://www.dougfrancis.com/?p=2278#comment-368 The change with the biggest impact for me is the Seller Credit to the Buyer item. Going from 6% to 3% will impact a lot of moderate income buyers who may have saved up the cash they need for a 3.5% down payment but don't have the cash they need for the closing costs. Don't get me wrong 3% will still be a big help but the combination of lender fees, title company fees, State and County transfer and recordation fees, survey, etc. etc. It all adds up Plus, let's be frank, in the moderate income housing market, a financially qualified buyer is a prized catch. Even if the buyer had all the cash needed to complete the purchase, some additional closing help from the Seller could help pay down the interest rate making the home more affordable - a big plus. .-= Ken Montville´s last blog ..<a href="http://blog.mdsuburbanhomes.com/2010/02/08/tunnelling-through-the-snow-to-my-heat-pump/" rel="nofollow">Tunnelling Through the Snow to my Heat Pump</a> =-. The change with the biggest impact for me is the Seller Credit to the Buyer item. Going from 6% to 3% will impact a lot of moderate income buyers who may have saved up the cash they need for a 3.5% down payment but don’t have the cash they need for the closing costs. Don’t get me wrong 3% will still be a big help but the combination of lender fees, title company fees, State and County transfer and recordation fees, survey, etc. etc. It all adds up

Plus, let’s be frank, in the moderate income housing market, a financially qualified buyer is a prized catch. Even if the buyer had all the cash needed to complete the purchase, some additional closing help from the Seller could help pay down the interest rate making the home more affordable – a big plus.
Ken Montville´s last blog ..Tunnelling Through the Snow to my Heat Pump My ComLuv Profile

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