Home Ownership Gets Tougher as Lenders Restrict FHA Mortgages.

Approximately 15% of home buyers in need of financing have FICO scores between 620 and 640. With the major lenders now raising the minimum FICO score for an FHA loan from 620 to 640, these folks are now forced out of the market. This article from Bloomberg news explains further the reason the major lenders are taking this stance and the likely consequences it will have on the real estate market.

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