Profile picture for lupe benjamin

Will there be a change in jumbo loans, SOON.I do not currently have the 20% downwillis soon drop

  • June 24 2009 - Chandler
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (3)

Profile picture for space_acer
20% of what price? 

What you have currently saved may well be enough, as prices continue to drop further. As prices fall further you % is increasing. 

The lending practices have been corrected, the price recovery is happening and prices will continue to drop.

Focus on the move on price declines and not easing of credit as the answer to meet your 20% deposit requirement.



 

 
  • June 25 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for real estate mike
My advice, keep saving. Most likely your home market hasn't bottomed yet and you have some time.
  • June 25 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

For the most part, Do not look for credit policy to ease on jumbo loans while unemployment is so high.  There are only a few lenders ofering jumbo financing and rates are in themid to high 5% range.  I have a 10% down program for borrowers with good credit and reserves buying a primary residence.  There may be a couple of other options as well for an owner caryback. 
  • June 25 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.