mortgages: The End of Seller Assisted Down Payments?
- 09/09/08 04:45 PM
Now is the time to buy a home if you cannot afford a down payment. The days of sellers contributing money to a buyer's down payment are nearing an end. Because of this many would be home owners will miss out on the opportunity of home ownership. This will be another cause for a further decline in home sales and lingering listings. Not to mention tighter lending standards which have basically shut out thousands of potential home buyers. With interest rates fluctuating daily, buying now makes perfect sense. Home prices are ripe for the pickings and interest rates are not as … (3 comments)
mortgages: Minorities and Low Income Families Affected by Strict Lending Rules
- 04/01/08 09:16 AM
Today in an article from Realtor Magazine I read that the National Association of Hispanic Real Estate Professionals (NAHREP), the Asian Real Estate Association of America (AREAA), and the National Association of Real Estate Brokers (NAREB) believe that tougher/stricter lending standards are having an effect on Minorities and low income families. The new rules have made it more difficult for minorities and low income families to obtain financing and/or to refinance. Higher LTV's (loan to value) ratios and higher mortgage costs have made it more difficult for for people who want to buy a home in today's market. Across the board this is having an impact … (3 comments)
Now is the time to buy a home if you cannot afford a down payment. The days of sellers contributing money to a buyer's down payment are nearing an end. Because of this many would be home owners will miss out on the opportunity of home ownership. This will be another cause for a further decline in home sales and lingering listings. Not to mention tighter lending standards which have basically shut out thousands of potential home buyers.
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