FHA Home Buyers may have to come up with more Down Payment & Higher Credit Scores

Currently FHA home buyers need 3.5% down payment.

Read the Whole news at RISMEDIA, December 11, 2009-(MCT)-The Federal Housing Administration (FHA) is about to beef up the borrowing requirements for home buyers, a move that could dampen the fragile housing market's recovery.

The agency also plans to seek permission from Congress to raise the annual mortgage insurance premiums and sellers will be able to help buyers with only 3%, rather than the current 6%, of associated closing costs.

If this goes thru homes sales may slow down considerably next year and if that happens home prices will most likely remain stagnant.

Las Vegas Century 21 REALTOR® helps homeowners Avoid Foreclosure in Las Vegas, North Las Vegas,Centennial Hills, Alianta, Henderson, Green Valley 

If you are looking to buy or sell in the Las Vegas area give me a call Dawn Barrier (702) 812-4550

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 Blog Disclaimer-This is a personal blog. All information is provided for informational purposes only and is Not legal advice, consult an attorney or financial expert for legal advice.

FHA Home Buyers may have to come up with more Down Payment & Higher Credit Scores Copyrighted © by Dawn Barrier *2009* All Rights Reserved.