FHA Down Payment Increase

Are you planning on purchasing a home an obtaining an FHA (Federal Housing Administration) loan? If you haven't already heard FHA will be ringing in the New Year with a new down payment requirement. As of January 1, 2009 the minimum down payment requirement for FHA loans will increase from 3% to 3.5%. If you are interested in purchasing a home, it is highly recommended that you speak to a loan officer early in the process. They can help determine how much home you can afford and can give direction on which programs best suit your home ownership goals.

Happy Holidays!

-Emily Schuyler, e-PRO

Smart Click Realty