Almost zero talk here about the one subject that can have the greatest impact on the RE market.
What does everyone think?
Cue the industry shills claiming these rules are unnecessary and will impact the economy
Moderator: admin
yzfr1 wrote:It might force people to extend their amortization period to 35 years.
Uninsured mortgages are the best kind, with 20% down it shows the buyer has some sort of saving ethics.
As for this slowing the market down, if I want to buy something for $700,000 and I have $140,000 in downpayment. Am I just going to walk away with my hands in my pocket because I don’t qualify? I would just lower my standards and buy something cheaper.
Its not like they are raising the minimum down from 5% to 10% which would prevent a certain group from buying anything period.