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The Scoop on Down Payments: They Don't Need to be 20%
The Scoop on Down Payments:
They Don't Need to be 20%
 
     
     It seems like a lifetime ago, but in actuality, it’s only been (approximately) 8 years since our nation’s housing crisis began …
     Since that time, there has been a tightening of Mortgage Underwriting Standards.  Much needed, as it’s obvious that the underwriting and lending standards previous to the crisis were way too lax. 
     New safety guards and regulations meant to protect and help Borrowers have now been implemented.  Much has been written about them.  All you have to do is a simple online search utilizing any of these terms (or many others): 
 
Mortgages  Home Buying  Mortgage pre-approval requirements  Documentation Needed for Mortgage Application TRID  Down payments  Underwriting  More
     ... you’ll reap page after page of articles and editorials alerting and educating current and potential homeowners and mortgage borrowers to the changes that have occurred as a result of the crisis.  
     Also addressed are the pros and cons of the changes and how homeowners and borrowers can and should utilize the new standards to their benefit.  But it should be noted that the one thing in financing left largely unchanged throughout and after the crisis is:  DOWNPAYMENT.   
     So if you’ve been hearing/reading that you need ... more

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