- May 25, 2002
- Professional Status
- Certified Residential Appraiser
Senate OKs Bill Offering FHA Help for Subprime Loans
The Senate plan would lower the down-payment requirement to 1.5 percent of the property's appraised value and raise the loan limit to $417,000. The House measure would give the FHA flexibility to lower the down payment to zero in some cases, and would raise the loan limit to $730,000.