HUD announced a new loan program that will come out this Fall called HAWK (homeowners armed with knowledge).
In summary it goes like this if you have not owned a home for 3 years:
* take a 6 hour HUD education class
* your upfront MIP goes down from 1.75% to 1.25%
* the monthly MIP goes down from 1.35% to 1.25% and
* if you take an additional 1 hour POST closing class, the monthly MIP can go down to 1.1%
Good news on the FHA loan front for first time homebuyers and all the short sale, foreclosure, bankruptcy people coming out of their 3 years waiting period to purchase!
Your North Georgia home is calling - need more information - Ask Me!
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