http://www.zillowblog.com/2013-06-17/the-return-of-the-10-percent-down-payment/ Around the country, some lenders are offering 90 percent financing again on all loan types. For example, San Francisco-based RPM Mortgage resumed offering “piggyback” loans in the first quarter of 2013 after discontinuing them during the height of the credit crisis in late 2007, according to Vice President Julian... [more]
http://www.zillowblog.com/2013-06-17/the-return-of-the-10-percent-down-payment/
Around the country, some lenders are offering 90 percent financing again on all loan types. For example, San Francisco-based RPM Mortgage resumed offering “piggyback” loans in the first quarter of 2013 after discontinuing them during the height of the credit crisis in late 2007, according to Vice President Julian Hebron. (A piggyback loan enables a home buyer to put only 10 percent down without having to buy mortgage insurance. This is done by getting two loans totaling 90 percent.)
In Monroe, NY, Rosalie Cook of Weichert Realtors says she is seeing buyer down payments range from all cash to as little as 5 percent. Mortgage lender Tom Gildea of Prospect Lending in Rockland County, NY agrees, saying that he’s doing loans with as little as 5 percent down “all day long.” Those 5 percent down deals are with private mortgage insurance, are only for conforming loans (less than $417,000) and are reserved for borrowers with excellent credit, verifiable income and little debt.
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Response by matsonjones
over 12 years ago
Posts: 1183
Member since: Feb 2007
Not in NYC Manhattan prime - unless it's a condo - that much, I can tell you.
Many 'regular' co-ops now looking for 30%/35%/40% as the new 'norm'.....
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Response by caonima
over 12 years ago
Posts: 815
Member since: Apr 2010
the crooks are cooking another bubble
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Response by alanhart
over 12 years ago
Posts: 12397
Member since: Feb 2007
FHA never stopped 3% down, as far as I can tell. And FNMA has permitted 10% all along.
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Response by caonima
over 12 years ago
Posts: 815
Member since: Apr 2010
why no one prosecute fha and fnma? what freaking justics do we have here?
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Response by greensdale
over 12 years ago
Posts: 3804
Member since: Sep 2012
I think Aboutready said she did 10% and had a lot of trouble.
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Response by columbiacounty
over 12 years ago
Posts: 12708
Member since: Jan 2009
se, why do you let this go on?
why, se?
why?
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Response by greensdale
over 12 years ago
Posts: 3804
Member since: Sep 2012
So you know better than Aboutready on how much she put down as a deposit? Were you here broker? Her lawyer? Her financial advisor? Or ... hmmm.
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Response by aboutready
over 12 years ago
Posts: 16354
Member since: Oct 2007
Well, I guess it's relative. I got it done I less than three months. No PMI. But thanks for remembering, hb. You clearly have nothing better to do with your time than regurgitate.
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Response by greensdale
over 12 years ago
Posts: 3804
Member since: Sep 2012
> I got it done I less than three months.
Yes but all the paperwork you complained about repeatedly. So many times that I had to remember it.
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Response by columbiacounty
over 12 years ago
Posts: 12708
Member since: Jan 2009
hfscomm1
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Response by aboutready
over 12 years ago
Posts: 16354
Member since: Oct 2007
That's bullshit, hb. You remember and bring up things from years ago. That's your thing. Sad, to chronicle all things you feel derisive about on SE. Get a life.
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Response by greensdale
over 12 years ago
Posts: 3804
Member since: Sep 2012
>You remember and bring up things from years ago.
Thought you bought your place 6-9 months ago.
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Response by aboutready
over 12 years ago
Posts: 16354
Member since: Oct 2007
Wrong
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Response by Riversider
over 12 years ago
Posts: 13572
Member since: Apr 2009
Low down payment mortgages are typically chosen by borrowers incapable of saving money. When adversity strikes these same borrowers default. It's no accident that the default experience of low ltv and high ltv mortgages are quite different.
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Response by greensdale
over 12 years ago
Posts: 3804
Member since: Sep 2012
You bought your place in Williamsburg "years ago"?
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Not in NYC Manhattan prime - unless it's a condo - that much, I can tell you.
Many 'regular' co-ops now looking for 30%/35%/40% as the new 'norm'.....
the crooks are cooking another bubble
FHA never stopped 3% down, as far as I can tell. And FNMA has permitted 10% all along.
why no one prosecute fha and fnma? what freaking justics do we have here?
I think Aboutready said she did 10% and had a lot of trouble.
se, why do you let this go on?
why, se?
why?
So you know better than Aboutready on how much she put down as a deposit? Were you here broker? Her lawyer? Her financial advisor? Or ... hmmm.
Well, I guess it's relative. I got it done I less than three months. No PMI. But thanks for remembering, hb. You clearly have nothing better to do with your time than regurgitate.
> I got it done I less than three months.
Yes but all the paperwork you complained about repeatedly. So many times that I had to remember it.
hfscomm1
Comment removed.
That's bullshit, hb. You remember and bring up things from years ago. That's your thing. Sad, to chronicle all things you feel derisive about on SE. Get a life.
>You remember and bring up things from years ago.
Thought you bought your place 6-9 months ago.
Wrong
Low down payment mortgages are typically chosen by borrowers incapable of saving money. When adversity strikes these same borrowers default. It's no accident that the default experience of low ltv and high ltv mortgages are quite different.
You bought your place in Williamsburg "years ago"?