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May 11, 2011 at 5:33 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #694719May 11, 2011 at 5:33 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #695322
Rich ToscanoKeymasterOops in looking thru the posts again I see I missed bg’s post saying she thinks that jumbos require a 30% down pmt. I had read that somewhere as well. That’s the kind of thing I’m talking about… if true, that’s a definite tightening.
May 11, 2011 at 5:33 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #695470Rich ToscanoKeymasterOops in looking thru the posts again I see I missed bg’s post saying she thinks that jumbos require a 30% down pmt. I had read that somewhere as well. That’s the kind of thing I’m talking about… if true, that’s a definite tightening.
May 11, 2011 at 5:33 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #695825Rich ToscanoKeymasterOops in looking thru the posts again I see I missed bg’s post saying she thinks that jumbos require a 30% down pmt. I had read that somewhere as well. That’s the kind of thing I’m talking about… if true, that’s a definite tightening.
May 11, 2011 at 5:24 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #694624Rich ToscanoKeymasterRight, nobody can argue that it’s a positive, but is it a significant negative?
sdr says no, that it’s the same to qualify for both types of loans. But for instance sdr, I’ve heard that down payment requirements are higher for non-conforming loans… if this is true, (even if “qualifying” is otherwise the same), that represents a tightening of financing for this price range. Any idea whether that’s the case?
May 11, 2011 at 5:24 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #694708Rich ToscanoKeymasterRight, nobody can argue that it’s a positive, but is it a significant negative?
sdr says no, that it’s the same to qualify for both types of loans. But for instance sdr, I’ve heard that down payment requirements are higher for non-conforming loans… if this is true, (even if “qualifying” is otherwise the same), that represents a tightening of financing for this price range. Any idea whether that’s the case?
May 11, 2011 at 5:24 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #695312Rich ToscanoKeymasterRight, nobody can argue that it’s a positive, but is it a significant negative?
sdr says no, that it’s the same to qualify for both types of loans. But for instance sdr, I’ve heard that down payment requirements are higher for non-conforming loans… if this is true, (even if “qualifying” is otherwise the same), that represents a tightening of financing for this price range. Any idea whether that’s the case?
May 11, 2011 at 5:24 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #695460Rich ToscanoKeymasterRight, nobody can argue that it’s a positive, but is it a significant negative?
sdr says no, that it’s the same to qualify for both types of loans. But for instance sdr, I’ve heard that down payment requirements are higher for non-conforming loans… if this is true, (even if “qualifying” is otherwise the same), that represents a tightening of financing for this price range. Any idea whether that’s the case?
May 11, 2011 at 5:24 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #695814Rich ToscanoKeymasterRight, nobody can argue that it’s a positive, but is it a significant negative?
sdr says no, that it’s the same to qualify for both types of loans. But for instance sdr, I’ve heard that down payment requirements are higher for non-conforming loans… if this is true, (even if “qualifying” is otherwise the same), that represents a tightening of financing for this price range. Any idea whether that’s the case?
May 11, 2011 at 2:43 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #694543Rich ToscanoKeymasterJim points out that the actual change in monthly payments isn’t all that big:
However, I thought that jumbo loans were more stringent in their underwriting requirements so it still seems like this would have an impact even beyond the 6% increase in payments (per Jim’s calculation).
May 11, 2011 at 2:43 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #694628Rich ToscanoKeymasterJim points out that the actual change in monthly payments isn’t all that big:
However, I thought that jumbo loans were more stringent in their underwriting requirements so it still seems like this would have an impact even beyond the 6% increase in payments (per Jim’s calculation).
May 11, 2011 at 2:43 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #695232Rich ToscanoKeymasterJim points out that the actual change in monthly payments isn’t all that big:
However, I thought that jumbo loans were more stringent in their underwriting requirements so it still seems like this would have an impact even beyond the 6% increase in payments (per Jim’s calculation).
May 11, 2011 at 2:43 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #695381Rich ToscanoKeymasterJim points out that the actual change in monthly payments isn’t all that big:
However, I thought that jumbo loans were more stringent in their underwriting requirements so it still seems like this would have an impact even beyond the 6% increase in payments (per Jim’s calculation).
May 11, 2011 at 2:43 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #695734Rich ToscanoKeymasterJim points out that the actual change in monthly payments isn’t all that big:
However, I thought that jumbo loans were more stringent in their underwriting requirements so it still seems like this would have an impact even beyond the 6% increase in payments (per Jim’s calculation).
May 11, 2011 at 2:39 PM in reply to: GSE limits slated to drop (PLUS bonus question for mortgage experts) #694618Rich ToscanoKeymasterThanks BG, I hadn’t checked in on that thread yet today… never mind!
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