Many changes with FHA financing will go into effect with the passage of HR 3221 by the time I post rates next Friday. Effective October 1, 2008:
Down payment assistance programs (such as Nehemiah) will be a no-no (without the passage of new legislation).
Minimum down payments are increased to 3.5% (from 3%).
Mortgage insurance premiums are increased.
Also with the [...]
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