Candace Carlson
Windermere Real Estate/ S.C.A., Inc
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FHA Official Announcement
Posted on January 23, 2010
FHA officially announced today that the upfront fee will increase from 1.75% to 2.25% for FHA case numbers pulled after April 4th.
This will not be a huge issue but it is just one more reason to try and get your buyers into contract ASAP.
April 5th- Fha loans will costs your client an extra .50% of the loan amount. (IE $300,000 loan extra $1,500 added to their loan).
April 30th- Must have First Time and Repeat Buyers in Contract to get the tax credit.
June-30th- Must close Tax credit transactions by this date.
Also as I continue to mention the Federal Reserve's mortgage rate lowering program is set to expire the end of March so expect higher rates in April.
