The Senate bill would also lower the FHA down payment requirement from 3 percent to 1.5 percent,
and
The House would raise the maximum mortgage to $729,750 in high-cost areas
Anyone who the exact income and assets qualifications for FHA loans? If a buyer opts for 1.5% down loan what kind of debt/income ratios are they going to use? Are they going to verify income so that buyers can’t game the system like they have been doing so far?
