[quote=mixxalot]Ugh here we go again! NINJA loans redux, this won’t end well.[/quote]I honestly don’t understand why the current RE market needs another ultra-low downpayment mortgage loan program. Isn’t it doing just fine all over the US without it?
As HLS said, there is always the FHA (w/MIP) as well as FF 5% down programs (w/PMI). Haven’t today’s buyers figured out by now (after watching the FC crisis of the aughts) that it isn’t a good idea to buy a home with little or no money down?
Why can’t these (mostly college-educated) millenials stop buying $800 iphones and Starbucks every day and stop spending their weekends at craft beer bars (speaking for my own kids here :=0) and start saving some of their large salaries for their first home?
