FHA Improvements Ahead

FHA loans which currently require a 3% downpayment may soon require a 1.5% downpayment. In addition the loan limits may also increase in Wisconsin and elsewhere. A bill passed the Senate today 93-1. The bill won't go the president to sign until next year. Currently, about 4% of loans are FHA, according to the report. Higher loan limits and lower downpayments will allow many borrowers to have a better loan than a subprime alternative. To learn more about FHA mortgages call 414-416-9194