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08-21-2008 at 12:53 PM
misslin20
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Joined on 09-24-2004
NC
121 Posts
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misslin20 is not online. Last active: 12-04-2008, 3:48 PMNewbie

I didn't realize FHA was changing!!!

I read the post below about the down payment amount going up on October 1st. We may close after that date....does anyone have a website that I can go to that has all that information on it? I know that seller assistance will be terminated from FHA loans as of Sept 5th, but I knew nothing about this.
 
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08-21-2008 at 12:59 PM
Wittlebuddy
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Joined on 05-21-2006
South Jersey
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Wittlebuddy is not online. Last active: 12-04-2008, 2:41 PMBronze

I called my mortgage company to ask about this today and my consultant told me that since we signed the contract before Oct 1st and already have the loan approval we should be fine.. and we are closing on our home in Dec.

I just googled "FHA Loan Changes as of Oct 1st".. it will bring up a bunch of sites you can look at.


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08-21-2008 at 1:10 PM
jtx
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Joined on 07-18-2008
east coast
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jtx is not online. Last active: 12-04-2008, 6:14 PMBronze
You need to talk to your broker about your specific situation. My broker had different information than was posted on the boards here and I've seen different links referenced here that contained conflicting information, so I'm not 100% confident on the FHA info that's posted here (though I'm not 100% confident in our broker's knowledge either, I think she'd know better about our situation).
 
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08-21-2008 at 1:29 PM
misslin20
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Joined on 09-24-2004
NC
121 Posts
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misslin20 is not online. Last active: 12-04-2008, 3:48 PMNewbie
Yep, I've noticed that all the information that I've found is different. I will go ahead and speak with my lender to take all the guess work out of it!
 
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08-21-2008 at 7:24 PM
Sisugal
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Joined on 01-07-2007
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Sisugal is not online. Last active: 12-04-2008, 6:13 PMBronze
FHA changes are  part of the recent mortgage bailout bill.
 
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