First-time and move-up homebuyers with heavy debt loads, low credit scores and small down payments face a daunting new mortgage hurdle: The Federal Housing Administration is toughening its underwriting standards. Large numbers of applications could be turned down in the coming months as a result. Industry estimates vary about the impact of the agency’s abrupt changes, but mortgage company executives told me last week that they are bracing for reductions in their FHA business by […]
source https://therealdeal.com/miami/2019/03/29/homebuyers-with-heavy-debt-might-find-it-tougher-to-get-a-mortgage/#new_tab
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