New changes to FHA loans on 1/31/13: Good-bye to 3.5% min down; hello a min of 5…
New changes to FHA loans on 1/31/13: Good-bye to 3.5% min down; hello a min of 5%, ex closing costs. This may make it harder for home buyers with limited funds to buy a home. Borrowers with low credit scores (580-620) will also be affected. They will be met with increased underwriting criteria that includes a maximum debt-to-income ratio. If you’re thinking of buying a home using an FHA loan get off the fence and into the market now. I can help. Please give me a call. www.robynporter.com
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