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Home Buying and Selling in Bucks and Montgomery Counties
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Whether you are buying or selling a home, you need a professional to support you through the entire process. I invite you to contact me as I would be happy to assist you with this important transaction.  | | | | Elaine Lucas | | Realtor, ABR, CRS, GRI, SRES | | Long & Foster Real Estate Inc | | Office: 215-591-5600 | | Direct: 215-591-5636 | | Cell: 215-896-2866 | | ELucas@LNF.com |
Thinking of Selling? Let me provide you with a free market analysis. Find out more. | |
FHA Moving to Tighten Underwriting Standards in 2010 The Obama administration is moving to tighten underwriting standards on FHA-backed loans by increasing the amount of upfront cash homebuyers must bring to the table, raising minimum FICO scores for new borrowers, and reducing maximum seller concessions from 6 percent to 3 percent. The most obvious way to increase upfront cash requirements would be to raise the 3.5 percent minimum downpayment requirement for loans guaranteed by the Federal Housing Administration. A bill introduced Oct. 1 by Rep. Scott Garrett, R-N.J., would raise the minimum downpayment for FHA loans to 5 percent and prohibit financing of closing costs. HR 3706, which has 27 co-sponsors, has been referred to the House Financial Services Committee. |
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Know of Someone Interested in BUYING or SELLING? Please Mention my Name
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Online Reports
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To enhance your buying and selling experience, it’s our job as real estate professionals to provide you with as much valuable information as possible. It is essential that the buyer or seller be aware of all aspects of the real estate market before making a major decision. Whether it be through newsletters, checklists or news articles, we are here to make this process stress-free and rewarding. Please access our free reports today!
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