Industry News

FHA may lower cap on seller concessions to buyers

Agency rethinking rules on how much financial help sellers can give
Published on Jan 24, 2012

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by CareyBot

It was easy to miss, but last Friday afternoon the Federal Housing Administration hinted that it is finally ready to resolve a real estate and mortgage issue that has been simmering away on the back burner for the past two years: How much in the way of financial concessions can home sellers provide to buyers using FHA mortgages?

It's an important subject, since FHA traditionally has allowed buyers, sellers and their advisers more latitude than any other federal mortgage player when it comes to concessions.

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