FHA Considering tightening Lending Policy
Posted by Sandra Israelson on Thursday, December 3rd, 2009 at 10:54am.The FHA announced today that they are considering tightening their lending policies. Under current policy, borrowers can purchase a property with only 3.5% down payment as long as they have a credit score of 620 or higher. This has enabled many first time home buyers to purchase homes. Stay tuned for more information on this topic in weeks to come. I will post any changes as they are announced.
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