Have you heard of the new proposed FHA initiative?  H.A.W.K. Homeowner’s armed with knowledge will reward qualified first time buyer participants with reduced UP Front Mortgage insurance premiums (.50% discount) and reduce the annual mortgage insurance premium after 7-10 years (.10% discount), or both.  H.A.W.K. will not necessarily help buyers qualify for larger loans, but rather, make FHA financing more affordable than it is right now.   The borrower must participate in HUD approved pre-purchase counseling, which is a great opportunity for you to get out a market this information and team up with a approved counselor in your area.  The HUD approved counselors can be found on HUD’s website at http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm