Oct 7

New Bill Would Increase Minimum Down Payment On FHA Mortgages

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With FHA mortgage delinquencies rising, Congress is weighing a proposal that would raise the minimum downpayment required for FHA mortgages from 3.5% to 5%, and disallow financing of any costs associated with closing FHA loans. Mortgage industry experts, however, argue that an increase would effectively… Excerpt from: New Bill Would Increase Minimum Down Payment On FHA Mortgages

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New Bill Would Increase Minimum Down Payment On FHA Mortgages