Nashville Real Estate

FHA Minimum Loan Down Payments May Raise to 5 Percent

October 2, 2009 by · 4 Comments 

Scott Garrett, a New Jersey Congressman, introduced legislation today in the US House of Representatives that would raise the minimum FHA loan down payments to 5 percent. Currently, the minimum requirement to obtain a federally backed loan is 3.5 percent. The move comes as record-high delinquencies drive the FHA’s reserve fund below 2 percent of [...]