FHA TOOLKIT

NAR joined with HUD to create a new Federal Housing Administration Toolkit designed to help Realtors better understand the FHA mortgage process. “The new toolkit will help Realtors educate consumers about FHA updates and changes, and the great benefits of using these programs,” says Pat V. Combs, NAR immediate past president.” FHA loans offer low downpayments, competitive interest rates and greater flexibility than most conventional mortgages. In addition, the Housing and Economic Recovery Act of 2008 made increased FHA loan limits permanent, allowing more buyers in high-cost areas to obtain FHA-backed mortgages. The FHA Toolkit includes a video of frequently asked questions, a flash media presentation of FHA programs, brochures and other reference guides, and links to other useful resources. The cost is $49.95; more details can be found at: http://www.realtor.org/prodser.nsf/products/166-155?OpenDocument#detail. For more information about the recent changes to FHA programs, visit the FHA Resources section of Realtor.org at: (http://www.realtor.org/government_affairs/fha_resources). 

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