Congress should soon pass a bill to lower the down payment on FHA loans to 1.5% (from 3%) and increase the mortgage amounts to $417,000. This could especially help you out if you’re on the fence for a conventional loan.
A version of this has already passed 348 to 72 so we could be looking at this taking effect shortly—first quarter of 2008 maybe
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Congress should soon pass a bill to lower the down payment on FHA loans to 1.5% (from 3%) and increase the mortgage amounts to $417,000. This could especially help you out if you’re on the fence for a conventional loan.
Clearwater Florida Homes
December 16th, 2007
Joe – that’s great news – thanks for keeping us posted on the latest FHA news. Lots of homebuyers will benefit from this if it passes. – Cyndee Haydon