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Loan Modification

: The Truth About Mortgage.com

Higher FHA Down Payment Would Shut Out 300,000 First Time Buyers

By scot184

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FHA commissioner David Stevens testified to Congress Thursday, arguing that a blanket minimum down payment increase for FHA loans would ?adversely impact the housing market recovery.? He noted in his testimony that requiring a five percent minimum down payment on FHA loans for all borrowers (up from the current 3.5%) would reduce endorsements by a staggering [...]

Full post as published by The Truth About Mortgage.com on March 12, 2010 (boomark / email).

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