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Message
If you were a bank....
Posted on 9/22/08 at 7:38 am
Posted on 9/22/08 at 7:38 am
what would you require to make a home loan now?
In terms of down payment, income, etc.
I know my Credit Union requires a 20% down payment - and they had that requirement before this mess began, too.
In terms of down payment, income, etc.
I know my Credit Union requires a 20% down payment - and they had that requirement before this mess began, too.
This post was edited on 9/22/08 at 7:47 am
3
Posted on 9/22/08 at 7:42 am to ArkansasDon
I would do exclusive Freddie and Fannie and they still allow 5% down.
Posted on 9/22/08 at 9:48 am to igoringa
My credit union also required 20% so they sent me to a finance company that does FHA loans. It was only 3% and our interest rate was 5.85%. According to our loan officer, you don't have to be a first time home buyer any longer to qualify for it.
Posted on 9/22/08 at 9:52 am to ArkansasDon
20% down, 35% debt-to-income.
Posted on 9/22/08 at 9:54 am to Colonel Hapablap
quote:
20% down, 35% debt-to-income.
Do you wear bell bottoms too?
Kidding, it is about time we return to traditional guidelines.
Posted on 9/22/08 at 9:55 am to ArkansasDon
i would require a top 25 poll, and if you had Utah #2 i would deem you legally retarded and deny a loan for that reason
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