Tag Archives: downpayments

Mortgage Industry Fights To Keep 3.5% Downpayments

The Federal Housing Administration insures home mortgages with down payments as low as 3.5%. When homeowners don’t have much money invested in a home, it is easier for them to walk away from it. This is the sort of nonsense … Continue reading

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How About 20% Minimum Down Payments On Homes?

If somebody has a substantial down payment on a home, they are much less likely to default. They are a better credit risk. During the go-go years of the housing boom, people bought homes with tiny downpayments, hoping to flip … Continue reading

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Wells Fargo Wants Stricter Mortgage Rules

Most businesses do not want to be regulated. Banks are no exception. All of the big banks are opposed to stricter mortgage rules. But Wells Fargo has broken with its peers. Congress passed in 2010 a massive overhaul of financial … Continue reading

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FHA Chief Warns Against Increasing Downpayments

Low downpayments make it easier for people to walk away from loans. Low downpayments were a key ingredient in all the fancy new mortgages that fueled the housing boom and then bust over the past eight years. The government keeps … Continue reading

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FHA Subsidizing Very Practices That Got Us Into This Mess

The reason we got into this housing mess is that the government massively intervened into the mortgage market to make it easier for people who would not otherwise qualify to find a mortgage. Low downpayments have always been a sign … Continue reading

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Refinance Mortgage Demand

CHICAGO (Reuters) – A new policy on mortgage down payment requirements from Fannie Mae (FNM.N: Quote, Profile, Research) is "sound," and could help unleash pent-up demand, James Lockhart, director of the Office of Federal Housing Enterprise, said on Friday. "There … Continue reading

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Refinance: Shall I Supersize You On That Mortgage?

The San Francisco Chronicle reports that jumbo mortages are finally getting cheaper. Congress passed legislation so that mortgages in expensive areas would go down in price. Lenders are now slashing rates. What do you need to do to qualify for … Continue reading

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UK Mortgage Fees Way Up For First-Time Buyers

They’ve increased about 35% over the past year. There are fewer lenders for the mortgage market. Higher credit scores are required and bigger downpayments. Here’s the report: The average fee paid by a first-time buyer to secure a mortgage in … Continue reading

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