Stricter quidelines include raising the bar regarding credit scores. FHA will soon require a minimum FICO of 620; currently FICO scores considered as low as 580.
Buyers that have had a previous foreclosure looking to utilize FHA financing will be required to wait 7 years and the FHA will require a larger down payment of 20% down. Current wait times for Fannie and Freddie are only 4 years.
In addition, they will reduce the maximum loan limit to $625,000, consistent with FHA’s mission to help low and moderate income individuals to purchase their first home.
Here are a few great deals if you are looking for the Urban Life Style that Downtown San Diego has to offer ~ Let's get MOVING!!!
Downtown San Diego is reaching record sales. A total of 108 Two-bedroom/two bath condos have SOLD in the last 6 months. 2/2's available in 92101....
Horizons - $450,000
Electra - $435,000
Aria - $470,000
Solara Lofts - $450,000
Breeza - $495,000
WATCH THE VIDEO
Search for your New Downtown Dream Home!
Katrina Hamilton
Direct: 858-405-4407
DRE #01410352
