High Interest rates replace high prices?

[SHILOH]

Some taxes in the East Coast fund the ongoing maintenance due to the battering weather here and the age of structures. SD roads, infrastructure and property cost less to maintain because they are newer and the weather makes a difference. Paved roads in NE are full of cracks and potholes. Then there is everything that goes into public works around inclement weather. I think it’s harsher. In Massachusetts, there is no state tax on clothing.

[SHILOH]

Some taxes in the East Coast fund the ongoing maintenance due to the battering weather here and the age of structures. SD roads, infrastructure and property cost less to maintain because they are newer and the weather makes a difference. Paved roads in NE are full of cracks and potholes. Then there is everything that goes into public works around inclement weather. I think it’s harsher. In Massachusetts, there is no state tax on clothing.

[HereWeGo]

Clearly credit is tightening, if not through higher rates, then through lower LTVs and the like.

[HereWeGo]

Clearly credit is tightening, if not through higher rates, then through lower LTVs and the like.

[HereWeGo]

Clearly credit is tightening, if not through higher rates, then through lower LTVs and the like.

[HereWeGo]

Clearly credit is tightening, if not through higher rates, then through lower LTVs and the like.

[HereWeGo]

Clearly credit is tightening, if not through higher rates, then through lower LTVs and the like.

[NotCranky]

HWG
“Clearly credit is tightening, if not through higher rates, then through lower LTVs and the like.”

Went to wamu today and can confirm this. Higher reserve rquirements and lower LTV,. In fact the woman I was talking with said the LTV had recently been changed from 95 to 75. Fico score requirements seemed higher but I can not confirm. They wanted 720 for stated income. I will answer questions about the info program on a different thread. If anyone wants to try to flame me for the stated income be my guest(on a thread the curious,if there are any, or I started.

BTW. There were 30-40 cubicles at the branch and I wa the only customer. It was lunch time but I would think lots of people take their lunch breaks to shop for loans.

[NotCranky]

HWG
“Clearly credit is tightening, if not through higher rates, then through lower LTVs and the like.”

Went to wamu today and can confirm this. Higher reserve rquirements and lower LTV,. In fact the woman I was talking with said the LTV had recently been changed from 95 to 75. Fico score requirements seemed higher but I can not confirm. They wanted 720 for stated income. I will answer questions about the info program on a different thread. If anyone wants to try to flame me for the stated income be my guest(on a thread the curious,if there are any, or I started.

BTW. There were 30-40 cubicles at the branch and I wa the only customer. It was lunch time but I would think lots of people take their lunch breaks to shop for loans.

[NotCranky]

HWG
“Clearly credit is tightening, if not through higher rates, then through lower LTVs and the like.”

Went to wamu today and can confirm this. Higher reserve rquirements and lower LTV,. In fact the woman I was talking with said the LTV had recently been changed from 95 to 75. Fico score requirements seemed higher but I can not confirm. They wanted 720 for stated income. I will answer questions about the info program on a different thread. If anyone wants to try to flame me for the stated income be my guest(on a thread the curious,if there are any, or I started.

BTW. There were 30-40 cubicles at the branch and I wa the only customer. It was lunch time but I would think lots of people take their lunch breaks to shop for loans.

[NotCranky]

HWG
“Clearly credit is tightening, if not through higher rates, then through lower LTVs and the like.”

Went to wamu today and can confirm this. Higher reserve rquirements and lower LTV,. In fact the woman I was talking with said the LTV had recently been changed from 95 to 75. Fico score requirements seemed higher but I can not confirm. They wanted 720 for stated income. I will answer questions about the info program on a different thread. If anyone wants to try to flame me for the stated income be my guest(on a thread the curious,if there are any, or I started.

BTW. There were 30-40 cubicles at the branch and I wa the only customer. It was lunch time but I would think lots of people take their lunch breaks to shop for loans.

[NotCranky]

HWG
“Clearly credit is tightening, if not through higher rates, then through lower LTVs and the like.”

Went to wamu today and can confirm this. Higher reserve rquirements and lower LTV,. In fact the woman I was talking with said the LTV had recently been changed from 95 to 75. Fico score requirements seemed higher but I can not confirm. They wanted 720 for stated income. I will answer questions about the info program on a different thread. If anyone wants to try to flame me for the stated income be my guest(on a thread the curious,if there are any, or I started.

BTW. There were 30-40 cubicles at the branch and I wa the only customer. It was lunch time but I would think lots of people take their lunch breaks to shop for loans.

[patientrenter]

Rustico: “Why does the o.p. need “low initial payments” on a house they can afford?”

Using my (extremely conservative personal) standards for affordability, they wouldn’t need a low initial payment loan at all, even if interest rates were 20%. But I recognize others have more normal affordability standards. If interest rates went back to 15%, and house prices plummeted, I wouldn’t have any problem advising a young person on their way up to stretch a little for a more expensive property (by a little, maybe 10-25% more). They could then either live on rice and beans for 5 or 10 years, or take on a loan with initial payments for that period that are a little lower than a level payment loan, maybe 5-15% less for 5 years.

Patient renter in OC

[patientrenter]

Rustico: “Why does the o.p. need “low initial payments” on a house they can afford?”

Using my (extremely conservative personal) standards for affordability, they wouldn’t need a low initial payment loan at all, even if interest rates were 20%. But I recognize others have more normal affordability standards. If interest rates went back to 15%, and house prices plummeted, I wouldn’t have any problem advising a young person on their way up to stretch a little for a more expensive property (by a little, maybe 10-25% more). They could then either live on rice and beans for 5 or 10 years, or take on a loan with initial payments for that period that are a little lower than a level payment loan, maybe 5-15% less for 5 years.

Patient renter in OC

[patientrenter]

Rustico: “Why does the o.p. need “low initial payments” on a house they can afford?”

Using my (extremely conservative personal) standards for affordability, they wouldn’t need a low initial payment loan at all, even if interest rates were 20%. But I recognize others have more normal affordability standards. If interest rates went back to 15%, and house prices plummeted, I wouldn’t have any problem advising a young person on their way up to stretch a little for a more expensive property (by a little, maybe 10-25% more). They could then either live on rice and beans for 5 or 10 years, or take on a loan with initial payments for that period that are a little lower than a level payment loan, maybe 5-15% less for 5 years.

Patient renter in OC

[Author]

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