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FHA Guideline Changes Coming

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eric1

Community Expert

Joined: 04 Jan 2009

Posts: 1511

226.89 Dollars($)

Posted: Fri Dec 11, 2009 3:49 pm Post subject: FHA Guideline Changes Coming	Like 0 Dislike 0

Everyone, I am not sure if this was discussed here yet, but there are some proposed changes in the FHA lending world. Looking to see who else heard about this and what your take is on it. The proposed changes include increasing the down payment requirement on FHA loans to 5%. In addition, the mortgage insurance would have to be paid out of pocket at closing and cannot be financed. Obviously, if this goes through, it would have a negative impact on the real estate market. MORE FHA INFO _________________ Eric JFree Rate Quote, Stated Income Loans FHA RATE QUOTE Mortgage Rate Quote