The FHA is going. buyers to get FHA loans. Come April it will do the following: 1. Increase the mortgage insurance premium (MIP). 2. Update the combination of FICO scores and down payments for new.
But Donovan plans to tell the House committee that the exploding volume of loans the FHA is now handling requires stricter. would boost the minimum down payment to 5 percent. As for seller.
Sellers are under no obligation to accept a purchase offer backed by an FHA-insured mortgage. And if they do, they’re also not obligated to extend seller concessions. Getting them is a part of the.