HUD is asking Congress to increase the min. down payment to increase from 3.5% to 5% on FHA loans. This would effect ALOT of buyers. My video guys here don’t mention it in this lender video but I’m also hearing that the min. credit score requirement is likely to go up as well. This could happen just after 
the first of the year. If you barely qualify for a loan now; get your bum out there and purchase; don’t waste your time on short sales that are likely to be a waste of time. Remember too, with short sales you can’t lock in your interest rate until you have final 3rd party approval, even if you are fortunate enough to get that what are the chances that the interest rate will still be as good as it is now 2-3 months down the road? Watch Video here! CLICK CLICK CLICK
Tags: down payment, FHA, HUD, TBWS