No Money Down House Loans
I am buying a house and will close 4/10. My finance guy has told me that I need to put 25% down w/ 2org point
Up until now he has been telling me to invest the money I have saved for the house but now a few weeks before closing he is talking 25%. He said after 3/31 there will be no more no money down home loans.
I dont have anything to base these facts on but would like to know your thoughts if you know Real Estate or the Financial side.
Thanks in advance.
you only need to put that much down if your credit is less than a 620. or your debt to income ratio is really high.
otherwise 10% should be sufficient.
EDIT-WFR, I am well aware of declining market and even still there are 10% down programs, and YES, i do know what iam talking about.