Mortgage industry fights to keep 3.5% down payments

Even if you don’t qualify for 100 percent financing, and 3 or 3.5 percent seems impossible, there’s additional good news: down payment assistance is available to buyers of all kinds. Many people don’t know that it’s out there, but buyers who take advantage of these programs receive an average of $11,000 in assistance making that "cut."

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FHA loans require down payments of 3.5 percent and home buyers with less-than-perfect credit may find FHA loans to be more cost-effective than the Conventional 97. Especially because FHA mortgage rates are typically 25 basis points (0.25 percent) below rates for a comparable conventional loan.

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Considering a 3-5% down payment. For borrowers with great credit and a steady income, a 3-5% down loan can be a financially sound option, allowing you to start investing and building equity sooner.

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In what is looking a lot like a jab at the FHA, Bank of America is set to launch a 3% down payment mortgage nationwide with the help of Freddie Mac and nonprofit Self-Help Ventures Fund. The new loan program, known as the "Affordable Loan Solution," aims to help underserved borrowers obtain homes with very little down.

Scott Brown – Housing Affordability Wiener’s bill is still WIMBY. Big WIMBY. And his housing “solutions” really just are smokescreens cleverly designed to use the housing affordability crisis to increase developer profits. wiener’s WIMBY goals should come as a surprise to no one. Scott Wiener was the California Building Industry Association (CBIA) legislator of the year.

The next domino likely to topple is the so-called private-mortgage-insurance industry. 80% first lien on a home and much of the remaining 20% down payment as a second lien. To fight back, the.

FREE HOUSES - 3 No Down Payment Home Loans "Affordable Loan Solution" Offers 3% Down Loan. A new loan program requires just 3 percent down and no mortgage insurance. The "Affordable Loan Solution" mortgage is a new loan program from Bank of America that is intended to be a less expensive option than the popular fha-backed mortgage.

Down Payment Assistance is Working 3.3.2013. By: Mari Takeshita – Cherry Creek Properties & Sharon Campbell – Guild Mortgage YOU DON’T NEED 10 %-20% DOWN PAYMENT TO BUY A HOME!. Down payment assistance programs grant or loan all or a portion of the 3.5% down payment required.

Shannon Kaestle skaestle@miamiherald.com Miamian Bruce Berkowitz has taken on a fight few would dare. family couldn’t have afforded it without the 10 percent down payment and low monthly mortgage.

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