Tag Archives: home down payments

97%+ Loan-To-Value Mortgage Loans: It’s Deja Vu’ All Over Again!

residential mortgage,mortgage underwriting,Fannie Mae,RMBS

Residential mortgage-backed securities (RMBS) stuffed with sub-prime “liar loans’ were at ground zero of the 2008 financial crisis and, guess what… They’re Ba-ack! Not stated loans per se but in a new program from Fannie Mae called HomeReady Mortgages, 97%-plus Loan-to-Value loans become possible ‘based not on the borrowers income (which is too low) but on “non-borrowers” […]

Whoa! New York Homebuyers Face An Average Down Payment Of $347,614!

Hallmark Abstract Service

Wait a second! Did I really mean to say that New York homebuyers face an average purchase price of $347,614? No, you read it correctly the first time! Incredibly, while the national average down payment for a new home is $31,723, in the New York/New Jersey marketplace the number soars to $347,614 representing 37% of the average […]