{"id":4139,"date":"2012-12-21T13:13:53","date_gmt":"2012-12-21T13:13:53","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=4139"},"modified":"2012-12-21T13:13:55","modified_gmt":"2012-12-21T13:13:55","slug":"fha-to-tighten-up-mortgage-standards-in-2013","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/fha-to-tighten-up-mortgage-standards-in-2013\/","title":{"rendered":"FHA to Tighten Up Mortgage Standards in 2013"},"content":{"rendered":"

FHA to Tighten Up Mortgage Standards in 2013<\/h2>\n
\"FHA<\/a>

FHA to Tighten Up Mortgage Standards in 2013, Image by ponsulak & FreeDigitalPhotos.net<\/p><\/div>\n

In an effort to make up for a large budget shortfall, the Federal Housing Administration announced it will publish new mortgage standards for certain home owners and replace a popular reverse-mortgage program on Jan. 31, 2013.<\/p>\n

As among the changes, borrowers with credit scores between 580 and 620 will face stricter underwriting standards. Such borrowers will face stricter limits on their debt-to-income ratio.<\/p>\n

The FHA<\/strong> also will soon require a minimum down payment of 5 percent for high-cost mortgages that exceed $625,500.<\/p>\n

FHA<\/em> also plans to suspend its popular reverse-mortgage option, which allows those 62 years and older to take cash out of their homes in a big, upfront payment, The Wall Street Journal reports. FHA<\/span> will be replacing it with the Home Equity Conversion Mortgage saver, which offers lower cash payments than the large upfront payment of the other program.<\/p>\n

The changes are part of an effort to make up for a $16.3 billion deficit FHA faces. The FHA reverse-mortgage program alone accounts for $2.8 billion of those losses.<\/p>\n

Last month, the FHA also announced it would increase insurance premiums.<\/p>\n

Source: \u201cFHA to Tighten Mortgage Programs<\/a>,\u201d The Wall Street Journal (Dec. 18, 2012)<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

FHA to Tighten Up Mortgage Standards in 2013 In an effort to make up for a large budget shortfall, the Federal Housing Administration announced it will publish new mortgage standards for certain home owners and replace a popular reverse-mortgage program on Jan. 31, 2013. As among the changes, borrowers with credit scores between 580 and … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-4139","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nFHA to Tighten Up Mortgage Standards in 2013 - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"description\" content=\"FHA to Tighten Up Mortgage Standards in 2013.The FHA also will soon require a minimum down payment of 5 percent for high-cost mortgages that exceed $625,500\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/fha-to-tighten-up-mortgage-standards-in-2013\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fha-to-tighten-up-mortgage-standards-in-2013\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fha-to-tighten-up-mortgage-standards-in-2013\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"FHA to Tighten Up Mortgage Standards in 2013\",\"datePublished\":\"2012-12-21T13:13:53+00:00\",\"dateModified\":\"2012-12-21T13:13:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fha-to-tighten-up-mortgage-standards-in-2013\\\/\"},\"wordCount\":218,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fha-to-tighten-up-mortgage-standards-in-2013\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2012\\\/12\\\/ID-10075087.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fha-to-tighten-up-mortgage-standards-in-2013\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fha-to-tighten-up-mortgage-standards-in-2013\\\/\",\"name\":\"FHA to Tighten Up Mortgage Standards in 2013 - 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