The Trump administration is vastly expanding the scope of condominium purchases eligible for lower-down-payment loans.
The move, announced Wednesday by the Federal Housing Administration, could help revive the entry-level condo market for first-time buyers because FHA-backed loans require only a 3.5% down payment and lower credit score than conventional loans.
— The Wall Street Journal
The move, in the works since 2016, could help provide a modest pathway for more Americans to afford real estate purchases, though tight supply and a pronounced focus on luxury housing on the part of developers could dampen the effects of the new measure.
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