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madmoney
ParticipantDWCAP,
We closed on our home August 28, 2008. We secured a loan through Aimloan.com referenced in this post by another poster within the last week of August. They finished our loan in 3 days if you belive it or not. We got approved by Wells Fargo in August as well and they weren’t requiring 15% down.
The lending standards haven’t gotten as tight as you think. I can give you several examples of how lax lending still is.
The main reason lenders are requiring a higher downpayment is because they can’t find an Insurance company to provide the mortgage insurance.
ParticipantDWCAP,
We closed on our home August 28, 2008. We secured a loan through Aimloan.com referenced in this post by another poster within the last week of August. They finished our loan in 3 days if you belive it or not. We got approved by Wells Fargo in August as well and they weren’t requiring 15% down.
The lending standards haven’t gotten as tight as you think. I can give you several examples of how lax lending still is.
The main reason lenders are requiring a higher downpayment is because they can’t find an Insurance company to provide the mortgage insurance.
ParticipantDWCAP,
We closed on our home August 28, 2008. We secured a loan through Aimloan.com referenced in this post by another poster within the last week of August. They finished our loan in 3 days if you belive it or not. We got approved by Wells Fargo in August as well and they weren’t requiring 15% down.
The lending standards haven’t gotten as tight as you think. I can give you several examples of how lax lending still is.
The main reason lenders are requiring a higher downpayment is because they can’t find an Insurance company to provide the mortgage insurance.
ParticipantDWCAP,
We closed on our home August 28, 2008. We secured a loan through Aimloan.com referenced in this post by another poster within the last week of August. They finished our loan in 3 days if you belive it or not. We got approved by Wells Fargo in August as well and they weren’t requiring 15% down.
The lending standards haven’t gotten as tight as you think. I can give you several examples of how lax lending still is.
The main reason lenders are requiring a higher downpayment is because they can’t find an Insurance company to provide the mortgage insurance.
ParticipantWhile it is getting harder to secure a loan, and it may be different in the bay area, I don’t buy only 2 or 3 lenders doing loans for at least 15% down. I just bought a home in southern california in the end of August, 2 of the 3 banks were allowing less than 15% down (but greater than 10%) and the other, Countrywide, was requiring 15% down.
ParticipantWhile it is getting harder to secure a loan, and it may be different in the bay area, I don’t buy only 2 or 3 lenders doing loans for at least 15% down. I just bought a home in southern california in the end of August, 2 of the 3 banks were allowing less than 15% down (but greater than 10%) and the other, Countrywide, was requiring 15% down.
ParticipantWhile it is getting harder to secure a loan, and it may be different in the bay area, I don’t buy only 2 or 3 lenders doing loans for at least 15% down. I just bought a home in southern california in the end of August, 2 of the 3 banks were allowing less than 15% down (but greater than 10%) and the other, Countrywide, was requiring 15% down.
ParticipantWhile it is getting harder to secure a loan, and it may be different in the bay area, I don’t buy only 2 or 3 lenders doing loans for at least 15% down. I just bought a home in southern california in the end of August, 2 of the 3 banks were allowing less than 15% down (but greater than 10%) and the other, Countrywide, was requiring 15% down.
ParticipantWhile it is getting harder to secure a loan, and it may be different in the bay area, I don’t buy only 2 or 3 lenders doing loans for at least 15% down. I just bought a home in southern california in the end of August, 2 of the 3 banks were allowing less than 15% down (but greater than 10%) and the other, Countrywide, was requiring 15% down.
ParticipantThanks ucodegen. We have no pre-payment penalty. From your definitions and what I’ve been reading the refi can open up the door to banks coming after personal assets (even though banks don’t do this often right now according to the other post).
I think I will not refinance at this time.
ParticipantThanks ucodegen. We have no pre-payment penalty. From your definitions and what I’ve been reading the refi can open up the door to banks coming after personal assets (even though banks don’t do this often right now according to the other post).
I think I will not refinance at this time.
ParticipantThanks ucodegen. We have no pre-payment penalty. From your definitions and what I’ve been reading the refi can open up the door to banks coming after personal assets (even though banks don’t do this often right now according to the other post).
I think I will not refinance at this time.
ParticipantThanks ucodegen. We have no pre-payment penalty. From your definitions and what I’ve been reading the refi can open up the door to banks coming after personal assets (even though banks don’t do this often right now according to the other post).
I think I will not refinance at this time.
ParticipantThanks ucodegen. We have no pre-payment penalty. From your definitions and what I’ve been reading the refi can open up the door to banks coming after personal assets (even though banks don’t do this often right now according to the other post).
I think I will not refinance at this time.
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