Articles Tagged With: FHA Loan Regulations

August 9, 2011

FHA Loans and Down Payment Assistance

By Joe Wallace

FHA home loans require a “minimum investment” or down payment from the borrower in order to be approved. The amount of the down payment for FHA insured loans at the time of this writing is a minimum 3.5% of the price of the home. Some loans may require more due to certain factors, but 3.5% is the FHA minimum. The buyer must pay the down payment, and it should be noted that other up-front costs such as closing expenses, appraisal fees and other charges do not count towards this minimum. The down payment amount all by itself is a serious amount of money for any borrower, and it’s one reason why financial experts always recommend borrowers take at least a year to prepare for the costs of a home loan–making | more...