Ep. 38 Get Used To Seller Concessions on FHA Buyers

Written by Tim Hart | Apr 3, 2020 1:27:00 PM

Tons of changes happening out there and I am trying to keep you updated as I learn more. Most lenders are increasing their credit score requirements for FHA buyers and so we are we. Rates for these products are higher than they were in the past and it looks like it may stay this way for a while. Many of these FHA buyers are now going to be required to pay discount points. This is more than likely going to be standard across the lending world for FHA buyers. This means that the FHA buyers closing costs are going to be higher than they have been in the past. Most of these FHA borrowers are dealing with limited funds so be prepared to accept for the seller to contribute towards your buyers closing costs. Have that conversation with their lender to find out how much you should ask for. Make sure you also prep your seller for FHA buyers