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Breaking News for Sacramento home buyers!
This was a good move on the part of the Government and I’m sure was backed heavily by the Mortgage Lenders at the National Mortgage Lenders Association in Washington this week. Had HUD decided to require FHA home buyers to put 5% as a down payment, I think it would have had an extremely bad impact on the future of real estate.
Thank heavens, FHA home buyers will only be required to put down 3.5% of their own money toward their mortgage loan. SMART move! We haven’t seen very many smart moves over the past few years but one is.
It’s important to get started and be working with a Realtor…time is running out for the home buyer tax credit.
Other Helpful Videos for Home Buyers:
New Facts About Home Buyer Tax Credit
I understand FHA is going to tighten their requirements. They are running a higher rate of delinquencies than they can tolerate. This was to be one of their moves. I think the important aspect of the market delinquency rate is to hold price and credit ratio’s.
True. Which surprised me when they decided not to raise the downpayment requirement.
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