down-payment requirements for regular fha one- to four-family mortgages

down-payment requirements for regular fha one- to four-family mortgages Sec. 310. (a) The first and second sentences of section 203(b)(2) of the National Housing Act are each amended— (1) by striking out “$15,000” in clause (i) and inserting in lieu thereof “$25,000”; (2) by striking out “$15,000” and “$25,000” in clause (ii) and inserting in lieu thereof “$25,000” and “$35,000”, respectively; and (3) by striking out “$25,000” in clause (iii) and inserting in lieu thereof “$35,000”. (b) Section 220(d)(3)(A)(i) of such Act is amended by— (1) by striking out “$15,000” in each clause numbered (1) and inserting in lieu thereof “$25,000”; (2) by striking out “$15,000” and “$25,000” in each clause numbered (2) and inserting in lieu thereof “$25,000” and “$35,000”, respectively; and (3) by striking out “$25,000” in each clause numbered (3) and inserting in lieu thereof “$35,000”. (c) Section 222(b)(3) of such Act is amended to read as follows: “(3) have a principal obligation not in excess of the sum of (i) 97 per centum of $25,000 of the appraised value of the property as of the date the mortgage is accepted for insurance, (ii) 90 per centum of such value in excess of $25,000 but not in excess of $35,000, and (iii) 80 per centum of such value in excess of $35,000; and”. 88 Stat. 683 (d) That part of clause (A) of the third sentence of section 234(c) of such Act which begins “and not to exceed” is amended to read as follows “and not to exceed the sum of (i) 97 per centum of $25,000 of the appraised value of the property as of the date the mortgage is accepted for insurance, (ii) 90 per centum of such value in excess of $25,000 but not in excess of $35,000, (iii) 80 per centum of such value in excess of $35,000”.