Ginthner & Associates - Windermere Real Estate
Specializing in Results
Windermere Capitol Hill 1112 19th Ave E Seattle WA 98112 206-324-8900 | Email: contact@ginthner.com
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Possible FHA changes
Posted on July 15, 2010
The Federal Housing Administration (FHA) is considering three policy changes to boost its capital reserves. Under the changes, new borrowers seeking FHA-insured loans will need a minimum FICO score of 580 to qualify for FHA's 3.5% downpayment program. New borrowers with credit scores between 500 and 580 will be required to provide a 10% downpayment, and borrowers with credit scores below 500 will no longer qualify.
