I am not in the business but i have one example. On the weekend while touring some models I noticed a few homes were being reduced because they were almost ready and the buyers failed to qualify. The selling agent was very candid and said that he’s starting to lose deals on 0% down buyers and complained that even with good credit and income, lenders are backing away from 0 down people. He added that four months ago at the start of construction he was able to pre-qualify these people but the situation is fluid. They were willing to chop an additional 30k if the buyer could show 20% down on a non contingent deal, so that is enough evidence for me that the playing field is changing. He said all this after I explained that his floorplans didn’t work for me at any price so I can see not alterior motive for his candid remarks.
