What candidate is in favor of FHA down payment assistance?
I was watching FOX last night and Carl Rove was saying that nobody with less then 20% down should be able to buy a house. What is McCains and Obamas stance on down payment assistance for FHA housing loans?
- Melinda PLv 61 decade agoBest Answer
Carl Rove is actually correct....that is one of the reasons we are in the foreclosure crisis we are in now-- mortgages were given to people who couldn't afford the house, so they just walked away from it because they didn't have anything invested in it.
But to answer your question...George Bush did actually just give some help to people trying to buy with FHA loans--- they put money down on the house and receive that money back over a period of time (I believe it's 10 years).