Mortgage Rule Changes: A year later

What it was then: You could get a mortgage with zero downpayment which meant the lenders would provide a mortgage for 100% of the purchase price.What it is now: You must have at least 5% of the purchase price as a down payment from your own resources, a gift from relatives or borrowed via a separate loan or line of credit as the lenders will now only provide up to 95% of the purchase price.

via Mortgage Rule Changes: A year later.

via Mortgage Rule Changes: A year later.

Related Articles

• Tips for First-time Buyers (theyoungfinancier.wordpress.com)
• What Should You To Do In Advance To Prepare For Your Mortgage Application (mymortgagenews.com)
• Mortgage Applications Drop 3.7% As Homeownership Rate Falls To 18 Year Lows (confoundedinterest.wordpress.com)
• Mortgage applications continue to fall (bizjournals.com)
• Finger on the Pulse of Residential Housing Demand – Mortgage Applications (christinemederaccountingadvisory.wordpress.com)
• Find Out If You Can Refinance Mortgage With Bad Credit (cheapmortgagerefinance.wordpress.com)
• Financial considerations for homebuyers over 40 (mysanantonio.com)
• It’s Still Possible to Qualify for a Mortgage Despite Bad Credit (greaterdenver.co)
• Three Compelling Reasons to Refinance Your Mortgage (bairdedwin27.wordpress.com)
• CFPB Mortgage Rules (thatcreditunionblog.wordpress.com)