FHA Down Payment Requirements in 2016, According to New Handbook

Want to use an FHA-insured mortgage loan to buy a house in 2016? If so, you’ll need to make a down payment of at least 3.5% of the purchase price or appraised value. But the money doesn’t have to come from you directly. It can be donated by a friend, a family member, or even an employer. Here’s an update on FHA down payment guidelines for 2016, based on the new HUD handbook.

Read More