FHA's new rule may hurt the purse of some buyers! Starting April 5, 2010, FHA is raising it's MIP from 1.75 to 2.25%, boosting the minimum down payment for borrowers with a credit score lower than 580 up to 10%! PLUS- it's reducing what the sellers can pay towards closing costs by half (down from 6 to 3%)...
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"Only the Sun Covers Charlotte Better!"
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Over 12 years of listings, sales, reos & bpos with the area's privately owned largest and most successful firm in the country. ABR, GRI, CRS
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