FHA loans--
Right now you can get up to 6% in Seller Closing Cost help- in the summer of 2010 you will now only be able to get up to 3% which means this. Right now you must bring 3.5% of the purchase price to settlement- you will then need to bring 6.5% to settlement- most will just do the 5% conventional loan- also the funding fee for PMI (Private Mortgage Insurance) will go from 1.75% of the purchase price to now 2.25%- this kicks in April 5, 2010. It is added to your loan amount. Overall this will cost buyers more $$ to purchase a home.