no loan without 20% down

[HLS]

Ranjan….

I have been quite busy, and haven’t read these posts lately, sorry. I didn’t read this entire thread, it’s 50+ posts now.

Believe it or not, there are still programs for 100% purchases, and there are still stated income loans,
IF you qualify…

The current comforming loan of $417K and under are conditioned by FNMA and FreddieMac. They didn’t offer 100% financing, only 95%. The talk of raised conf loan amounts hasn’t been addressed yet.

As of late, certain areas have been determined to be “areas of declining value” and any property in that class is automatically reduced by 5%, so the the old 95% loan is now only 90%.

FHA still has 97% financing (3% down) but the costs/fees are too high IMO.

Loans over 80% still require mortgage insurance.

If you would like my contact info, please email me at [email protected] and I will send you my contact info.
Please post that you have sent me an email, as I don’t check that address unless prompted.

Will be happy to provide any information that I can.

[kewp]

All I’m saying is that given the *record* amount of foreclosures and personal bankruptcies (and getting worse) that people should be more cognizant of the risks involved with excessive leverage.

And really, the gravy train (easy credit/leverage) really is coming to a halt. No more NINJA loans, for example.

It’s perfectly reasonable to get ‘rich’, by anyones definition, with only a minimum of leverage. It just takes hard work and time.

Edit:Warren Buffet, probably the best investor of all time, on leverage:

Avoid leverage
The most dramatic way we protect ourselves is we don’t use leverage. We believe almost anything can happen in financial markets… [so] even smart people can get clobbered with leverage. It’s the one thing that can prevent you from playing out your hand.

[kewp]

All I’m saying is that given the *record* amount of foreclosures and personal bankruptcies (and getting worse) that people should be more cognizant of the risks involved with excessive leverage.

And really, the gravy train (easy credit/leverage) really is coming to a halt. No more NINJA loans, for example.

It’s perfectly reasonable to get ‘rich’, by anyones definition, with only a minimum of leverage. It just takes hard work and time.

Edit:Warren Buffet, probably the best investor of all time, on leverage:

Avoid leverage
The most dramatic way we protect ourselves is we don’t use leverage. We believe almost anything can happen in financial markets… [so] even smart people can get clobbered with leverage. It’s the one thing that can prevent you from playing out your hand.

[kewp]

All I’m saying is that given the *record* amount of foreclosures and personal bankruptcies (and getting worse) that people should be more cognizant of the risks involved with excessive leverage.

And really, the gravy train (easy credit/leverage) really is coming to a halt. No more NINJA loans, for example.

It’s perfectly reasonable to get ‘rich’, by anyones definition, with only a minimum of leverage. It just takes hard work and time.

Edit:Warren Buffet, probably the best investor of all time, on leverage:

Avoid leverage
The most dramatic way we protect ourselves is we don’t use leverage. We believe almost anything can happen in financial markets… [so] even smart people can get clobbered with leverage. It’s the one thing that can prevent you from playing out your hand.

[kewp]

All I’m saying is that given the *record* amount of foreclosures and personal bankruptcies (and getting worse) that people should be more cognizant of the risks involved with excessive leverage.

And really, the gravy train (easy credit/leverage) really is coming to a halt. No more NINJA loans, for example.

It’s perfectly reasonable to get ‘rich’, by anyones definition, with only a minimum of leverage. It just takes hard work and time.

Edit:Warren Buffet, probably the best investor of all time, on leverage:

Avoid leverage
The most dramatic way we protect ourselves is we don’t use leverage. We believe almost anything can happen in financial markets… [so] even smart people can get clobbered with leverage. It’s the one thing that can prevent you from playing out your hand.

[kewp]

All I’m saying is that given the *record* amount of foreclosures and personal bankruptcies (and getting worse) that people should be more cognizant of the risks involved with excessive leverage.

And really, the gravy train (easy credit/leverage) really is coming to a halt. No more NINJA loans, for example.

It’s perfectly reasonable to get ‘rich’, by anyones definition, with only a minimum of leverage. It just takes hard work and time.

Edit:Warren Buffet, probably the best investor of all time, on leverage:

Avoid leverage
The most dramatic way we protect ourselves is we don’t use leverage. We believe almost anything can happen in financial markets… [so] even smart people can get clobbered with leverage. It’s the one thing that can prevent you from playing out your hand.

[HLS]

The fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…

I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.

The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)

There is a time when buying makes sense, but it’s still not that time in most areas of SD.

I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.

[HLS]

The fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…

I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.

The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)

There is a time when buying makes sense, but it’s still not that time in most areas of SD.

I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.

[HLS]

The fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…

I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.

The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)

There is a time when buying makes sense, but it’s still not that time in most areas of SD.

I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.

[HLS]

The fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…

I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.

The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)

There is a time when buying makes sense, but it’s still not that time in most areas of SD.

I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.

[HLS]

The fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…

I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.

The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)

There is a time when buying makes sense, but it’s still not that time in most areas of SD.

I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.

[bsrsharma]

there are still programs for 100% purchases, and there are still stated income loans, IF you qualify…

That is a teaser! Who in this day wants to give away money for 100% and stated income, knowing full well the incentives for "Heads I win, tails you lose" mindset of many home buyers?

[bsrsharma]

there are still programs for 100% purchases, and there are still stated income loans, IF you qualify…

That is a teaser! Who in this day wants to give away money for 100% and stated income, knowing full well the incentives for "Heads I win, tails you lose" mindset of many home buyers?

[bsrsharma]

there are still programs for 100% purchases, and there are still stated income loans, IF you qualify…

That is a teaser! Who in this day wants to give away money for 100% and stated income, knowing full well the incentives for "Heads I win, tails you lose" mindset of many home buyers?

[bsrsharma]

there are still programs for 100% purchases, and there are still stated income loans, IF you qualify…

That is a teaser! Who in this day wants to give away money for 100% and stated income, knowing full well the incentives for "Heads I win, tails you lose" mindset of many home buyers?

[Author]

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