The housing market continues to change and one of the largest changes in 2009 was the resurgence of FHA financing. As lenders have tighted up financing requirements and increased down payments from 0% a few years ago to predominantly 10% today, FHA's more forgiving standards and lower 3.5% down payment requirement have made it a very popular tool in the last 12 months. In fact, FHA financing has zoomed from 3% of sales in 2007 to 37% in 2009 - just two years later! That is an over 1000% increase! The … [Read more...]
