FHA is trying to achieve balance of managing their risk while providing access to underserved consumers.  The government mortgage insurer now backs approximately half of all home loans to the nation’s minorities. 

The changes that are coming are:

- Raising upfront Mortgage Insurance Premium (MIP) from 1.75% to 2.25%

- For borrower’s with a FICO score over 580, the down payment percentage will remain at 3.5% however for borrower’s under 580, they will need 10% down

- Reduce closing cost assistance from 6% to 3%

For more information about these changes, visit http://www.cnbc.com/id/34947047 or call your local lender.  As always, if I can assist, you can call me at 717-623-8508.

Willow Brook is an upscale, luxury planned community located in Lower Paxton Township (Dauphin County).  The final phase of building in underway however all existing inventory has been price reduced!

- Three floor plans to choose from (1,644 – 2,159 square feet), including a first floor master suite option

- All plans offer 3 Bedrooms and 2.5 Baths

- Full basement

- Two car garage

- Central Dauphin School District

- Priced from $217,400

- Very affordable homeowner association fees ($170 per quarter)

For more information or a private tour, please contact me at 717-623-8508.