I have written several posts in the past about the proposed rules being debated. These new rules could impose down payment requirement of up to 20%. This is not to say that one could not get a mortgage through FHA for lower down payments or that banks wouldn’t make loans for lower down payments. However, these new down payment thresholds would determine the pricing of the loan. So in order to get the best rate you would be looking at a minimum of paying a 10% down payment. How would this impact you and your ability to buy a home? If you already own, how much longer would you of had to wait? Would this make you move on from owning a home? These are all questions that are being asked. Please check out this video and then share how this could or would have impact you.
Visit http://cra-nc.org/your-stories and share.