Housing

Good or you TTH..got to grab it whilst you can
SR, I've been here intermittently from Chitown.
I'm knackered though...my flight didnt get in until 2 this morning.

Btw...SR, you and TTH just mentioned figures of 20 and 25% as down payments now even with good credit (as a requirement by some banks)...which is about where they have shifted to in England. The last I heard, most were asking for good credit with strong qualifying candidates and between 25 and 30% downpayment. As things were before, many first time buyers could get a mortgage with about 2% down (sometimes nothing)...and lots of younger people became home owners. I think now we will start seeing that age group rise as the down payment rises too.

C xx

Btw...SR, you and TTH just mentioned figures of 20 and 25% as down payments now even with good credit (as a requirement by some banks)...
C xx Originally Posted by Camille

I heard a report the other day (couldn't tell you where) that said in the US now, if you don't have a 20% down, you can kiss your loan goodbye. And you have to have good credit. The report said that it may not be regulation, but the banks have made it a de facto requirement.

Yes, I'm not surprised it's going this way at all Charles.
A strong combo of good credit and a decent sized down payment.
That's how it used to be years ago. People couldn't get mortgages in their 20's because small down payments just didn't exist. They'd save for years and buy much later on. I haven't really had time to think about how this would affect the market as a whole (both now and then)...but it's not a new approach that's for sure.

C xxx

I'm knackered though... C xx Originally Posted by Camille

Damn ya made me google "knackered."

http://www.urbandictionary.com/defin...term=knackered

And just to make sure you are completely up to date SR, "knackers" is a colloquialism for goolies...or balls.

"She kicked me in the knackers"....you get the picture

C

I heard a report the other day (couldn't tell you where) that said in the US now, if you don't have a 20% down, you can kiss your loan goodbye. And you have to have good credit. The report said that it may not be regulation, but the banks have made it a de facto requirement. Originally Posted by charlestudor2005

Not so. Not even close to "so". New home purchases are still being done in the 90-95% financing range...by the boatload. But I do admit the creditworthiness of the home buyer is under much more scrutiny.

"She kicked me in the knackers"....you get the picture C Originally Posted by Camille

Run away! Run away! (note to self, avoid being within kicking distance of Camille! ).

Not so. Not even close to "so". New home purchases are still being done in the 90-95% financing range...by the boatload. Originally Posted by Rudyard K

Not in my neck of the woods. That 90-95 boat sank a while ago.

Not in my neck of the woods. That 90-95 boat sank a while ago. Originally Posted by SR Only

Well, you know?...Everything's bigger in Texas.

Just send your insurance payments to Hartford (insurance capitol).

Run away! Run away! (note to self, avoid being within kicking distance of Camille! ). Originally Posted by SR Only

Now now SR. If I had to kick someone in the knackers it would only ever be as a means of self-defense.

Well, you know?...Everything's bigger in Texas. Originally Posted by Rudyard K

Even Rangoons!

Even Rangoons! Originally Posted by Camille

Is that crab rangoon, or is that something diff?

Is that crab rangoon, or is that something diff? Originally Posted by charlestudor2005

Crab Rangoon...correct Charles

Even Rangoons! Originally Posted by Camille

Would you cut that out?! I'm gonna make you put a link to Google and Google Translation in your sig.