FHA News Alert from Virna Brown of GreenPark Mortgage

FHA News Alert from Virna Brown of GreenPark Mortgage

First- everyone should know by now that the first time homebuyer's tax credit goes away December 1st.
That means, they must close on a home by November 30th to qualify. (Don't bank on the extension of this program)

Secondly- There is talk that FHA will change their down payment requirements from 3.5% to 5%. FHA is looking to reduce their risk as they start to become riddled with foreclosures.
This change may make the USDA loan even more popular for homebuyers.

Lastly- Don’t forget about the Condo changes taking place on November 1st with FHA. I had sent an e-mail out to all of you with regards to the details of this change. Please let me know if you need me to re-send this to you.

If you have any questions, please don’t hesitate to contact me direct at 508-369-6988

Thank you

Virna Brown
Sr. Mortgage Consultant
Greenpark Mortgage Corporation
140 Gould Street
Needham, MA 02494
Cell/direct 508-369-6988
E-Fax: 508-256-5550
E-mail: vbrown@greenparkmortgage.com
Website: www.greenparkmortgage.com/virnabrown

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