Some Changes in FHA Mortgages : Carlsbad Relocation A to Z

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An informational source for people who are relocating, with a particular focus on moving to the Carlsbad area of North County San Diego (and nearby coastal communities), with advice, guidance and true stories to help you on your way and make it a great journey, from a REALTOR� with plenty of personal (4 major moves, most recently from Boston to Carlsbad, California) and professional relocation experience. Are you running into problems selling your home? Need to find a new one quickly? Never moved before and haven't a clue? You'll find some great tips on how to solve your relocation issues here. Or ask me a question any time and I'll share some solutions or tell you where to get more information. CA DRE License #01490977

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Some Changes in FHA Mortgages

Listen up if you :

(1) are pre-approved for an FHA mortgage, or

(2) plan to get pre-approved to use an FHA loan to buy a home in your new location.

Money

FHA has recently made some significant changes in requirements and other details about their loans.

You can read more about these recent announcements on the HUD website.

Government sites can be a challenge to wade through all the "stuff." A friend of mine in Philadelphia, Jeff Belonger, is an FHA expert - his blog article about FHA loans makes these changes much easier to understand.

Some big changes:

An increase in the mortgage insurance premium amount
A decrease in the amount of concession a buyer can receive from a seller from 6% max to 3% max

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If I can provide more information about Carlsbad real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.