Ar_home_b_search
 



fha loans: FHA Might Soon Require 5% Downpayments for NH and MA FHA Loans - 10/19/09 09:49 PM
A bill has been introduced recently that proposes the Federal Housing Administration require a 5% downpayment up from the current 3.5% buyers need to put down on an FHA home purchase.  There are several other items in the bill but this is by far the biggest change.  
Although it has a long way to go (through the house and senate, and then to the president) the bill has been introduced in Congress which increases the minimum down payment for Federal Housing Administration (FHA)-insured mortgages from 3.5% to 5%. Titled "The FHA Taxpayer Protection Act of 2009" HR 3706 would also prohibit financing appraisals, initial … (2 comments)

fha loans: FHA Mortgage Loans - 10/27/08 10:30 PM
It's interesting to see how many mortgage bankers are just now taking "FHA 101."   This is a great product that most likely could have been used in place of many sub prime loans but that would have required the borrower to actually document their credit....imagine that.  I have only been in the industry for 4 years now but one of the first loans I ever wrote was an FHA loan.  These aren't anything new.  In fact they have been around for a very long time.  They still allow the borrower to contribute 3% into the transaction and that 3% can even … (1 comments)

 
Lighter_photo

Justin Perry

Portsmouth, NH

More about me…

Mortgage Banker

Office Phone: (603) 570-4897

Cell Phone: (603) 682-4293

Email Me



Links

Archives

RSS 2.0 Feed for this blog