July 22, 2024

Lawmakers Seek To Raise FHA Minimum Down Payment To 5%

The House Financial Services Committee proposed draft legislation that would raise the minimum down payment on FHA loans to 5% and also prohibit the financing of closing costs. The current minimum down payment for FHA borrowers is 3.5% with a credit score of 580 or higher.  For FHA borrowers with credit scores below 580, a […]