Chattanooga Real Estate Blog » underwriting http://blog.chattanoogarealestatetoday.com Chattanooga Real Estate Today Sat, 17 Jul 2010 03:54:56 +0000 http://wordpress.org/?v=2.8.5.2 en hourly 1 Tighter Loan Requirements from FHA http://blog.chattanoogarealestatetoday.com/tighter-loan-requirements-from-fha/ http://blog.chattanoogarealestatetoday.com/tighter-loan-requirements-from-fha/#comments Thu, 21 Jan 2010 21:30:20 +0000 Karen Rhodes http://blog.chattanoogarealestatetoday.com/?p=461 FHA has now announced more tightening of underwriting guidelines.

  • Up front mortgage insurance premium increased to 2.25
  • 10% down payment for buyers with a FICO of less than 580.
  • Seller concessions reduced from 6% to 3%

No specific date on when these changes go into effect, just sometime in the spring.  Stay tuned!

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