For example: Veterans are eligible for zero down payment loans as always. USDA loans at 100% financing are available in 80% of communities nationwide. FHA loans with as little as 3.5% down payment are available for anyone with credit scores over 620, and income that can be documented. And ther are many special loan or minimal down payment conventional loans available. As well as specialty programs like FNMA Homepath program that allows for as little as 3% down, NO appraisal or MI!
I am not sure what else the typical home buyer could ask for. I think what has changed is the way underwriters review income and asset documentation with a more critical eye. Simply, as long as the borrower is a reasonable credit risk and has a history of employment and credit management, the loan programs available today may in fact be as good or better than ever. Certainly when we take into account the historically low fixed rates, the combination of all these factors make this the best buyers market I have seen in 25 years as a broker.
For more information on buying or financing a home, visit our Trulia web site here:
Dave Van Waldick - Trulia Site
Dave Van Waldick
Managing Broker / REALTOR®
Western Realty Associates
Off/Cell: 760-599-1261
Sales | Financing | Investments | Consulting
CA DRE# 01065844 / NMLS# 345616
PS: "As Real Estate Experts, we provide an integrated suite of strategic sales and financing solutions."
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