How can we expect FHA standards to change as a result of this?

[Tyler L.]

So I was preparing to buy my first house hack this coming summer post graduation, I had the downpayment saved and strong credit.

I’ve decided I’ll have to push it back a few months so that I can A. Hopefully avoid the shutdown or B. Grow my emergency fund in case the shutdown lasts longer or has to come back.

My concern is I can find very little information on how FHA standards change during a recession. I know we can expect most traditional lending restrictions to tighten (as JP Morgan just did) but could not find much info on how FHA changes, onlu that in the last recession they raised the PMI rate.

Basically, I want to know if:

A. We can expect any changes to the qualification requirements (3.5% down, 580 credit score, 43% DTI)

B. If banks will even agree to take on these loans, or if it will turn into an exclusively 20% down requirement across the board regardless of FHA insuring them.