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down payment

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lori foss

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Post Posted: Fri Oct 03, 2008 2:56 pm    Post subject: down payment
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does the 3% down payment apply to up to $729,650 or just the traditional 417,00?
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Jessica
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Post Posted: Sat Oct 04, 2008 6:30 am    Post subject:
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Hi lori foss,

As much as I've heard of, the 3% down payment applies to FHA loans irrespective of the limit. However, the3% down payment applies till December 31, 2008. After that, homebuyers will need to put down minimum 3.5% of an FHA loan as the down payment.

Regards,

Jessica.

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Icon Mini Profile lisascherzer



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Post Posted: Sat Oct 04, 2008 9:01 pm    Post subject:
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Yes the 3% does apply as long as the 729K applies to your area and it does expire at the end of the year.
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