Hal's Mortgage Blog

New legislation passed a few days ago regarding FHA loans appears to eliminate DPA after October 1, 2008. The bill is over 600 pages so it bears some closer scrutiny - it is unclear regarding whether or not Tribal Nations will be exempt.

There is good news! First Time Homebuyers who buy starting this year will receive a $7500 tax credit. This may offset the loss of DPA.

FHA continues to be one the best remaining loan programs available for buyers with a low down payment or less than perfect credit.


Posted by Hal Tennant on July 31st, 2008 3:19 PMPost a Comment (1)

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