A recent article, I have copied below, talks about a bill that should reach President Bush soon. Hopefully, it will allow people looking to buy homes with no money down to qualify for an FHA loan still.

Currently, people need 3% as a down payment for FHA loans. If this bill passes, and it’s looking better than ever, it could help tremendously with those having a hard time getting financing for a new home or trouble refinance their existing loan.

Here is the link: Subprime alternative: FHA reform deal close