Categories: Brett's Mortgage Blog

HUD Set To Reduce Seller Help On FHA Loans…

Good Morning!..
The Department of Housing and Urban Development is again talking about reducing the seller contribution on buyers closing costs from 6% to 3% on FHA loans.Many home buyers prefer to use the FHA program primarily because of the larger seller contribution (currently 6%).

If this policy goes into effect it would make it much more difficult for many borrowers to purchase homes. …reducing the number of potential buyers in the market place.

This has a very real chance of going into effect in the near future.

My message to you: If you were considering purchasing a home and wanted the 6% sellers contribution – don’t wait. …Buy now.

That’s it for today!

Have a good day today! …and thanks for reading.

Brett

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Brett Sampson