Effective April 1 there are some changes coming in the lending world that could impact you if you plan to use an FHA loan to purchase a new home. The cost of mortgage insurance is expected to go up and they will be decreasing the maximum debt ratio. What this means is that if you are planning on using an FHA loan (attractive b/c it only requires 3.5% for a downpayment) to purchase your next home it will be a little bit more expensive and a little more restrictive next month.
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Uncategorized • March 14, 2013
Changes coming to FHA buyers
by Loren VanCorbach
Uncategorized Why is there no inventory? I hear it often…Why are there no homes for sale in Whatcom County? Many sellers are afraid to list their homes out of fear of selling quickly with no place to move to. Baby boomers are not retiring. Staying in their homes longer means less supply. Remodeling is on the increase as an option to […]