SOURCE: Mortgage News Feed
It happens every year. As the calendar turns over, the FHA rumors begin. This year, the most pervasive rumor has to do with the minimum down payment requirement for FHA loans in 2014. Here is a recent email from one of our readers that underscores the point: “I have heard that FHA is increasing the down payment required on FHA loans to 10%, across the board. Is this true?” No, it’s not. There is actually a two-tiered down payment requirement for FHA loans in 2014. One of those tiers does, in fact, sit at 10%.
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Each week we post articles on FHA/VA Government news topics, ranging from FHA Direct Endorsement Underwriters, to current FHA underwriting guidelines, to new FHA rules/regulations, FHA compliance, FHA lending requirements and much more! PLEASE NOTE: We are NOT owned, operated or affiliated with HUD, FHA or the Federal Government in any way.