There is a proposal being floated around U. S. Congress to raise the FHA Down Payment amount to 5% of a homes purchase price. It gets worse. The bill would also disallow inclusion of closing costs with FHA loans. Passage would mean thousands of people struggling to save enough for a downpayment would be shut out, or delayed in buying their dream home.
For more information follow this link: http://http//www.housingwire.com/2009/10/06/bill-raises-required-down-payment-to-5-for-fha-loans/
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