By the way we DO appreciate any posts that correct the rumor we heard about no loans being issued for less than 15% down.
We only heard that 15% min down payment rumor from only ONE source, and I would love to get some independent opinions on that.
With your basic livable homes still about $600K or more in Silicon Valley, we found the 15% down payment rumor depressing because it would mean we need about $90K or $100K down payment just to get a loan for a decent Silicon Valley home.
Laugh, I know, but I’m actually thinking about starting to shop for a home. Here in San Jose, home prices are already off by about 35%.
