Lagniappe Living in Lake Charles, Louisiana: March 2010

Change Coming Round the Bend Monday- FHA Funding Fee and Seller Concessions



fha update

The new FHA Funding Fee goes in to effect on Monday, April 5, 2010.  Currently it is 1.75% of the amount of the loan.  New amount will be 2.25%. 

If you have a signed contract before April 5th and it has been registered in  the FHA system the fee will be 1.75%. If your contract is signed before April 5th and registered in FHA  after April 5th, the fee will be 2.25%!  NO EXCEPTIONS.






Also going into effect with FHA changes will be the amount allowed in Seller contributions toward buyer's closing costs.  6% is what is currently allowed but when the new FHA change goes into effect April 5, FHA will only allow 3% in seller concessions.

Do you clients a favor, check with the  lender if you have just signed an FHA contract or plan on signing one this week.  Remember Good Friday is a holiday so that gives you 2 more days to make sure it is done.  Otherwise there will be a GFE redisclose due to the increase in fees.




For more information on Lake Charles Real Estate, visit my website.  You can search homes for sale in Lake Charles, Louisiana,  and view up to date information on Lake Charles Subdivisions, Neighborhoods

Find Lake Charles Realtor Marilyn Boudreaux Century 21 Mike D. Bono & Co.'s on Google+

If you are planning a move to or from the Lake Charles, LA area, I can help!   I am a full time Realtor licensed by the Louisiana Real Estate Commission and am affiliated with:

Century 21 Mike D. Bono & Co.'s

4410 Nelson Road, Lake Charles, LA, 70605 USA

337-478-1578 or 337-499-9592

CENTURY 21® is a registered trademark owned by Century 21 Real Estate LLC. An Equal Opportunity Company. Equal housing Opportunity. Each office is independently owned and operated.  The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments are not warranted or implied representation of it's accuracy,  All information is copywritten and the property of the Author, Marilyn Boudreaux.  


Follow me on Facebook

Marilyn Boudreaux Century 21


Google ME


 Marilyn Boudreaux Copyright 2012


Comment balloon 0 commentsMarilyn Boudreaux • March 30 2010 02:42PM
Change Coming Round the Bend Monday- FHA Funding Fee and Seller…
The new FHA Funding Fee goes in to effect on Monday, April 5, 2010 Currently it is 1. 75% of the amount of the loan. New amount will be 2. 25%. If you have a signed contract before April 5th and it has been registered… more
It was a Great Day to hit the Links in Lake Charles
8th Annual Leaguers & Links Golf Tournament was held at L'Auberge du Lac Contraband Bayou. If you are a golfer, you will enjoy the courses available in Southwest Louisiana. This is the best time of year when the weather is pleasant and… more
Get Motivated!
I just got home from the Get Motivated seminar held today in Beaumont, Texas and I am pumped up! This morning I got to hear some of the best lineup of speakers and this seminar was FREE! Thats right FREE! Where can… more
Lake Charles Louisiana Century 21 Mike D. Bono & Co. 's #1 in Real…
Century 21 Mike D. Bono & Co. 's is #1 in Lake Charles Real Estate I am proud to be affiliated with Century 21 Mike D. Bono & Co. 's a leader in Southwest Louisiana real estate since 1976. Last week I attended our Century 21 District Awards… more
Tips for Handling Time Wasters
As Real Estate professionals we are busy and time is precious to us. Our phone is our life line. Have you ever answered only to speak to a telemarketer and while you are trying to get off the phone, someone important beeps in and you miss them?… more
Breaking the Code
I must still have words on my mind now I am thinking about Text Lingo! We recently had a guest speaker come to our real estate office and leave us all with goodie bags. Going through the bags you found the normal items vendors give… more
Playing the Real Estate Game
Do you know the ABC's of real estate?? As we were seated in a restaurant last night, as is the habit, we all placed our Iphones on the corner of the table. While we were waiting on our dinner, my 26 year old son asked me if I played "… more
Free to Breathe Lake Charles-I'm walking in honor of a Century 21…
Free to Breathe Lung Cancer Race/Walk was held this morning in Lake Charles, March 27, 2010 Did you know lung cancer kills 160, 000 people annually? With a number like that I bet you or someone you loved has been affected by this disease… more
South Lake Charles Country Home for Sale, Take a Tour of 9548 Simon…
Tour this South Lake Charles Country Home for Sale! 9548 Simon LeBleu Road, Lake Charles, Louisiana Located in South Lake Charles on Simon LeBleu Road, this large 2638 sq ft. country home sits on 2 acres and is… more
Got Termites? Who You Gonna Call?
Anyone who has ever bought or sold real estate knows that in order to close there has to be a "clean" WDIR (wood destroying insect report) meaning no termites located within the structure of the home being purchased! However not all… more