FHA commissioner Dave Stevens announced that FHA will be changing the maximum amount a seller can contribute towards a Delaware home buyers closing costs. The current maximum is 6% of the purchase can be contributed towards the buyers closing costs. This will change in April of 2010 to only 3% of the purchase price. The current maximum of 6% is typically more than enough to cover the closing costs for a Delaware purchase transaction.
When the new maximum of 3% takes affect in April of 2010, this will mean Delaware home buyers will have to bring more money to the settlement table. Home buyers will need to plan on saving more money up to afford to buy a home after April 2010.
If you want to beat the deadline and see if you can qualify now to buy a home in Delaware feel free to contact me
John R. Thomas
Certified Mortgage Planner
302-703-0727 Office
DelawareMortgages@yahoo.com
42 Reads Way
New Castle, DE 19720
*This is not an offer to lend. 
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