Current state of mortgage lending
Join Date: Aug 2004
Posts: 1,450
Anyone have any info on what the current state of mortgage lending looks like? Are FHA loans for fist time home buyers being done with 5-10% down? What about non FHA loans, are banks lending again to first time home owners what about investment properties, can deals get done with 20% down or is more required?
Join Date: Feb 2003
Posts: 17,679
20% down will get you done everywhere, except Jumbos.
On a scale of getting a Jumbo from 1-5, I'd say it's a 3 these days. Things like employment, etc are just as important.
FHA deals are getting done at those levels also.
