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Shopping for a home? Your down payment could net extra fees

5:42 PM, Feb 5, 2013   |    comments
A 'For Sale' sign at a Hollywood, Fla., house.(Photo: Joe Raedle, Getty Images)
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WASHINGTON -- If you're in the market for a home, the size of your down payment could result in extra fees.

The Federal Housing Administration is changing its loans. Starting April 1, there will be an increase in the mortgage insurance premium fee.

The FHA is also tightening what is required for borrowers with low credit scores and the agency will raise the down payment on larger loans. You can read more about this on the Federal Housing Administration's website.

 

 

 

 

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