This is a significant change that will have major implications, particularly in a market like the Bay Area which has numerous H1B visa holders that are invited here for tech jobs. While FHA is not the only option in securing financing, its lending flexibility and lower interest rate offerings can often offer better overall payments to some borrowers.
Let me know if you have any questions, or if you are aggressively looking for a home and hoping to secure FHA financing and are NOT a U.S. citizen or green card holder, your time to get into contract is limited.
