Important News from FHA

Published by julia | Filed under Buyer / Seller Tips, Market Trends, Miscellaneous, Real Estate, Shout Outs

EFFECTIVE JANUARY 1ST 2009

THE FOLLOWING CHANGES WILL BE MADE ON ALL FHA LOANS

• The Down Payment will be based off the Appraisal or Purchase Price which ever is less.
• The NEW Down Payment will be 3.5%.
• The Down Payment will be based on the lower of the Purchase Price or Appraisal.
• Maximum “Loan To Value” will be 96.5%.
• Don’t forget $7,500 Income Tax Credit for First Time Home Buyers

Ken Ynes
813-294-5767
ken@dhmloans.net
Diversified Home Mortgage
Serving Tampa Bay over 17 years