Look Out!... FHA Might Be Going Up On Their Down Payment Requirements.

Hello,

HUD Secretary Shaun Donovan is scheduled to address congress on Wednesday.

...It looks like he's going to recommend an increase in the up-front cash paid by borrowers as part of an effort to shore up the agency's finances.

This means either more down payment, less seller's concessions, or both for FHA loans. ...It doesn't mean this will happen - but HUD wants it, and they usually get what they want on their own loan programs.

Right now FHA is one of the lowest down payment, and most credit flexible programs available in the marketplace.

My message to you is this... ...if you were considering purchasing a house with an FHA loan - I would do it sooner rather than later.

I hope you have a good day today. Thanks for reading!


Brett