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 […]
Lawmakers Seek To Raise FHA Minimum Down Payment To 5%
June 9, 2011 Filed Under: FHA Down Payment Requirements