Home › Forums › Closed Forums › Buying and Selling RE › Why can I not get a loan?
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davelj.
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January 20, 2009 at 9:35 AM #332096January 20, 2009 at 9:37 AM #331576
cv2
ParticipantHow long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.
January 20, 2009 at 9:37 AM #331914ParticipantHow long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.
January 20, 2009 at 9:37 AM #331990ParticipantHow long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.
January 20, 2009 at 9:37 AM #332017ParticipantHow long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.
January 20, 2009 at 9:37 AM #332101ParticipantHow long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.
January 20, 2009 at 9:56 AM #331586(former)FormerSanDiegan
Participant[quote=cv2]How long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.[/quote]
This is misleading. Low-down loans have been around since WAY before 1996.
Private Mortgage Insurance has been around since the late 1950’s (for mortgages with less than 20% down). MGIC was founded in the late 50’s.
FHA has been around since the 1930’s. BY 1938, a house could be purchased with as little as 10% down.
January 20, 2009 at 9:56 AM #331924Participant[quote=cv2]How long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.[/quote]
This is misleading. Low-down loans have been around since WAY before 1996.
Private Mortgage Insurance has been around since the late 1950’s (for mortgages with less than 20% down). MGIC was founded in the late 50’s.
FHA has been around since the 1930’s. BY 1938, a house could be purchased with as little as 10% down.
January 20, 2009 at 9:56 AM #332000Participant[quote=cv2]How long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.[/quote]
This is misleading. Low-down loans have been around since WAY before 1996.
Private Mortgage Insurance has been around since the late 1950’s (for mortgages with less than 20% down). MGIC was founded in the late 50’s.
FHA has been around since the 1930’s. BY 1938, a house could be purchased with as little as 10% down.
January 20, 2009 at 9:56 AM #332027Participant[quote=cv2]How long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.[/quote]
This is misleading. Low-down loans have been around since WAY before 1996.
Private Mortgage Insurance has been around since the late 1950’s (for mortgages with less than 20% down). MGIC was founded in the late 50’s.
FHA has been around since the 1930’s. BY 1938, a house could be purchased with as little as 10% down.
January 20, 2009 at 9:56 AM #332111Participant[quote=cv2]How long does it take for you to save $80K?
Before 1996 or earlier, you always have to put 20% down unless with some special government programs. Looks like we are back to the future.[/quote]
This is misleading. Low-down loans have been around since WAY before 1996.
Private Mortgage Insurance has been around since the late 1950’s (for mortgages with less than 20% down). MGIC was founded in the late 50’s.
FHA has been around since the 1930’s. BY 1938, a house could be purchased with as little as 10% down.
January 20, 2009 at 10:08 AM #331601ncounty4
ParticipantWe actually already own a house that has declined in value, so we would be walking away from any equity we built. We have a rapidly growing family and don’t see why we should have to live in a townhouse when we make a quarter million dollars a year. We can actually afford well over an $800k house from a monthly cash flow perspective, but still value things like savings and investing. We also have 20% to put down, but unlike most people, don’t want to liquidate absolutely every asset we have to get into a house.
January 20, 2009 at 10:08 AM #331939ParticipantWe actually already own a house that has declined in value, so we would be walking away from any equity we built. We have a rapidly growing family and don’t see why we should have to live in a townhouse when we make a quarter million dollars a year. We can actually afford well over an $800k house from a monthly cash flow perspective, but still value things like savings and investing. We also have 20% to put down, but unlike most people, don’t want to liquidate absolutely every asset we have to get into a house.
January 20, 2009 at 10:08 AM #332015ParticipantWe actually already own a house that has declined in value, so we would be walking away from any equity we built. We have a rapidly growing family and don’t see why we should have to live in a townhouse when we make a quarter million dollars a year. We can actually afford well over an $800k house from a monthly cash flow perspective, but still value things like savings and investing. We also have 20% to put down, but unlike most people, don’t want to liquidate absolutely every asset we have to get into a house.
January 20, 2009 at 10:08 AM #332042ParticipantWe actually already own a house that has declined in value, so we would be walking away from any equity we built. We have a rapidly growing family and don’t see why we should have to live in a townhouse when we make a quarter million dollars a year. We can actually afford well over an $800k house from a monthly cash flow perspective, but still value things like savings and investing. We also have 20% to put down, but unlike most people, don’t want to liquidate absolutely every asset we have to get into a house.
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