http://www.sandiegoh.com/2008/01/23/the-feds-lower-rates-34-of-a-percent/ San Diego Real Estate News and Events Fri, 21 Nov 2008 06:49:10 +0000 http://wordpress.org/?v=2.3 http://www.sandiegoh.com/2008/01/23/the-feds-lower-rates-34-of-a-percent/#comment-492 Lysa Catlin Thu, 24 Jan 2008 15:41:23 +0000 http://www.sandiegoh.com/2008/01/23/the-feds-lower-rates-34-of-a-percent/#comment-492 Yes, there are a few 100% financing programs still available. The lending conditions are very rigid. You must have a good fico score and be able to provide your pay stubs, tax returns, and bank statements to qualify. The biggest issue is the appraised value. The value of the property must be very strong and supported by other comparable sales. With as little as 5% down, the guidelines are more lenient. However, lenders are continually changing their guidelines. Several of the larger banks are now requiring a minimum of 20% down payment. I think many more banks will follow their lead. If you are looking to purchase a home with less than 10% down, I recommend you do so sooner rather than later while those programs are still available at these low, low rates. Yes, there are a few 100% financing programs still available. The lending conditions are very rigid. You must have a good fico score and be able to provide your pay stubs, tax returns, and bank statements to qualify. The biggest issue is the appraised value. The value of the property must be very strong and supported by other comparable sales. With as little as 5% down, the guidelines are more lenient. However, lenders are continually changing their guidelines. Several of the larger banks are now requiring a minimum of 20% down payment. I think many more banks will follow their lead. If you are looking to purchase a home with less than 10% down, I recommend you do so sooner rather than later while those programs are still available at these low, low rates.

]]> http://www.sandiegoh.com/2008/01/23/the-feds-lower-rates-34-of-a-percent/#comment-490 Denny Oh Thu, 24 Jan 2008 07:08:17 +0000 http://www.sandiegoh.com/2008/01/23/the-feds-lower-rates-34-of-a-percent/#comment-490 Are banks still offering 100% financing? How strict are lending conditions now and what should buyers anticipate? Are banks still offering 100% financing? How strict are lending conditions now and what should buyers anticipate?

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