The Frisco, Dallas, Fort Worth, DFW metroplex Realestate and Mortgage market as it pertains to home buyers, home loans, and refinancing, or even people selling their home in Frisco, Plano, or Dallas. The view from a Frisco Mortgage Person...including weekly Stock and Bond commentary, Mortgage Home Loan Rate Quotes, and mortgage calculator. Frisco Homes For Sale.
Wednesday, September 10, 2008
FHA Down Payment Requirement Increases...Effect First Time Home Buyers in Frisco
It's been talked about and it's not necessarily brand new information, but FHA down payment requirement is going up to 3.5%. No longer will closing costs be considered as part of the amount of money they have to have involved in the transaction. They will have to have 3.5% down payment...3.5% is from the lesser of the sale price or appraised value.
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