- This topic has 300 replies, 23 voices, and was last updated 17 years, 9 months ago by
Ranjan.
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February 13, 2008 at 7:51 AM #152963February 13, 2008 at 4:09 PM #152839
SD Realtor
ParticipantHi Ranjan –
If that is what they are doing then so be it. The exposure that they have had to the downside may be coming to haunt them and they must strap up hard to move their paper. (which is not a bad thing by the way)
However (and unfortunately) there are still many vehicles out there for low downpayments. The loosening (aka stimulus package) really stinks (at least for me as someone who has been a prudent buyer and do not believe that people should buy a home heavily financed) and allows some serious FHA financing packages that enable heavy financing with little down.
SD Realtor
February 13, 2008 at 4:09 PM #153117ParticipantHi Ranjan –
If that is what they are doing then so be it. The exposure that they have had to the downside may be coming to haunt them and they must strap up hard to move their paper. (which is not a bad thing by the way)
However (and unfortunately) there are still many vehicles out there for low downpayments. The loosening (aka stimulus package) really stinks (at least for me as someone who has been a prudent buyer and do not believe that people should buy a home heavily financed) and allows some serious FHA financing packages that enable heavy financing with little down.
SD Realtor
February 13, 2008 at 4:09 PM #153121ParticipantHi Ranjan –
If that is what they are doing then so be it. The exposure that they have had to the downside may be coming to haunt them and they must strap up hard to move their paper. (which is not a bad thing by the way)
However (and unfortunately) there are still many vehicles out there for low downpayments. The loosening (aka stimulus package) really stinks (at least for me as someone who has been a prudent buyer and do not believe that people should buy a home heavily financed) and allows some serious FHA financing packages that enable heavy financing with little down.
SD Realtor
February 13, 2008 at 4:09 PM #153143ParticipantHi Ranjan –
If that is what they are doing then so be it. The exposure that they have had to the downside may be coming to haunt them and they must strap up hard to move their paper. (which is not a bad thing by the way)
However (and unfortunately) there are still many vehicles out there for low downpayments. The loosening (aka stimulus package) really stinks (at least for me as someone who has been a prudent buyer and do not believe that people should buy a home heavily financed) and allows some serious FHA financing packages that enable heavy financing with little down.
SD Realtor
February 13, 2008 at 4:09 PM #153219ParticipantHi Ranjan –
If that is what they are doing then so be it. The exposure that they have had to the downside may be coming to haunt them and they must strap up hard to move their paper. (which is not a bad thing by the way)
However (and unfortunately) there are still many vehicles out there for low downpayments. The loosening (aka stimulus package) really stinks (at least for me as someone who has been a prudent buyer and do not believe that people should buy a home heavily financed) and allows some serious FHA financing packages that enable heavy financing with little down.
SD Realtor
February 13, 2008 at 4:26 PM #152849raptorduck
ParticipantI don’t think this is a bad thing at all. It will help people have some cushion for a further drop in the market and not stretch to get into homes, which contributed to the current crises.
What I have set aside for a maximum contribution for a down payment dictates the max house I can buy. The minimum I am going to put down is 20% and the most likely down based on the prices of homes on my short list is between 25%-30% down.
Of course, I have this thing that I overpay into my mortgage principal for a few years until I have 70% equity.
February 13, 2008 at 4:26 PM #153128ParticipantI don’t think this is a bad thing at all. It will help people have some cushion for a further drop in the market and not stretch to get into homes, which contributed to the current crises.
What I have set aside for a maximum contribution for a down payment dictates the max house I can buy. The minimum I am going to put down is 20% and the most likely down based on the prices of homes on my short list is between 25%-30% down.
Of course, I have this thing that I overpay into my mortgage principal for a few years until I have 70% equity.
February 13, 2008 at 4:26 PM #153131ParticipantI don’t think this is a bad thing at all. It will help people have some cushion for a further drop in the market and not stretch to get into homes, which contributed to the current crises.
What I have set aside for a maximum contribution for a down payment dictates the max house I can buy. The minimum I am going to put down is 20% and the most likely down based on the prices of homes on my short list is between 25%-30% down.
Of course, I have this thing that I overpay into my mortgage principal for a few years until I have 70% equity.
February 13, 2008 at 4:26 PM #153153ParticipantI don’t think this is a bad thing at all. It will help people have some cushion for a further drop in the market and not stretch to get into homes, which contributed to the current crises.
What I have set aside for a maximum contribution for a down payment dictates the max house I can buy. The minimum I am going to put down is 20% and the most likely down based on the prices of homes on my short list is between 25%-30% down.
Of course, I have this thing that I overpay into my mortgage principal for a few years until I have 70% equity.
February 13, 2008 at 4:26 PM #153229ParticipantI don’t think this is a bad thing at all. It will help people have some cushion for a further drop in the market and not stretch to get into homes, which contributed to the current crises.
What I have set aside for a maximum contribution for a down payment dictates the max house I can buy. The minimum I am going to put down is 20% and the most likely down based on the prices of homes on my short list is between 25%-30% down.
Of course, I have this thing that I overpay into my mortgage principal for a few years until I have 70% equity.
February 13, 2008 at 4:48 PM #152864Aecetia
ParticipantIf you know, is the 20% for owner occupied or for all purchases, such as second homes, etc? Thanks.
February 13, 2008 at 4:48 PM #153144ParticipantIf you know, is the 20% for owner occupied or for all purchases, such as second homes, etc? Thanks.
February 13, 2008 at 4:48 PM #153147ParticipantIf you know, is the 20% for owner occupied or for all purchases, such as second homes, etc? Thanks.
February 13, 2008 at 4:48 PM #153168ParticipantIf you know, is the 20% for owner occupied or for all purchases, such as second homes, etc? Thanks.
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