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FHA guidelines to change a bit in 2009

Among the changes, the buyer’s entire cash investment—as little as 3.5 percent—can be a gift from a family member, employer, charitable organization or local government entity. According to NAR, "FHA is interpreting this to mean a 3.5 percent down payment (not including closing costs)." See the FREE online FHA Toolkit.
Published Wednesday, January 14, 2009 3:28 PM by KRAIN - Residential and Commercial Real Estate

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