FHA New minimum down payment 3.5 %

As of Jan 1st, 2009 FHA has changed its down payment requirement for the first time in more than a decade.  The new down payment is slightly higher than previously.  It has increase from 2.85% to 3.50%.  FHA still allows 100% or a portion of the down payment and closing costs to be a gift from a relative. 

 

What did you think of this article?




Trackbacks
  • No trackbacks exist for this entry.
Comments
  • No comments exist for this entry.
Leave a comment

Submitted comments will be subject to moderation before being displayed.

 Enter the above security code (required)

 Name

 Email (will not be published)

 Website

Your comment is 0 characters limited to 3000 characters.