Nothing wrong with 20% down just not required.I don’t think anyone should feel bad or sit out the market ONLY because they don’t have it. I used a 5% down on my first house and VA no no on my second. The third was quite a different story and the next whatever it takes to get investment properties when I am ready.
Yes Vagabondo many, if not most,low down payment loans will go upside down.They have before I don’t make the rules. Most people pay them in normal times and lenders caluculate the risks in normal times too.
BobS. I don’t know right off hand I’ll ask around.There are some mortgage guys here. I am not sure if contraman orginates loans or just works in finance. Maybe SDR can say if he checks this thread. I had heard a rumor of a 90/10 program at Pacific First Trust Bank a few months ago but I wouldn’t count on finding it there anymore.
Contraman. There are two points: Do you need 20% down which is being spread as an accidental rumor cleared up and spread again. I don’t know why? Then buy vs. rent for what a lot of people want is still out of whack(prices too high). No to the first yes to the second. Which one did I miss?
