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Home Buyers Will Have to Lay out More Cash for an FHA Mortgage

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Margaret Bassett

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Home buyers will have to pay more cash upfront to get a mortgage backed by the Federal Housing Agency -- including, possibly, coming up with a larger minimum down payment -- and will need to achieve higher minimum credit scores under changes announced today by Housing and Urban Development Secretary Shaun Donovan.

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Margaret Bassett passed away August 21, 2011. She was a treasured member of the Opednews.com editorial team for four years.

Margaret Bassett--OEN editor--is an 89-year old, currently living in senior housing, with a lifelong interest in political philosophy. Bachelors from State University of Iowa (1944) and Masters from Roosevelt University (1975) help to unravel important requirements for modern communication. Early introduction to computer science (1966) trumps them. It's payback time. She's been "entitled" so long she hopes to find some good coming off the keyboard into the lives of those who come after her.

Related Topic(s): Deregulation-Regulation; Fed Regulatory Agency FHA; Housing; Real Estate Mortgages, Add Tags

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