January 19th, 2010 by Michael Oliver

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FHA loan standards are going to be increased as soon as possibly this week as the FHA commissioner David Stevens has to do something to lower the default rate associated with FHA loans. FHA is a government agency that unlike what a lot of people think only issues insurance on loans that confirm to their guidelines. If they guarantee the loan (issue insurance) and a loan defaults they (FHA) reimburses the lender for the loan. FHA loans currently are used in almost 50% of all Tucson Homes purchased. The vast majority of first time buyers use FHA loans as they are somewhat easier to qualify for for and with much lower down payments then regular banks will offer.

FHA Loan Changes, FHA Loan Guidelines, FHA Loans