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Will 100% financing mortgages always be offered?
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One hundred per cent financing or no money down purchase programs have been commonplace in the mortgage market for the past several years. A word of caution to potential homebuyers though, as the housing markets in many areas start to see diminishing home values, many investors will back away from 100% financing. Dont make the mistake of thinking that just because such programs are available now that they will always be there.While 100% financing options may not disappear altogether, there is already movement by some lenders to tighten up the criteria for granting these types of loans. In the future, to qualify for these programs, you may need higher credit scores and/or the ability to fully document your income and assets.
Will 100 Financing Mortgages Always Be Offered in the News:
| Effort to rebuild blighted Buffalo, N.Y., neighborhoods is hurt by foreclosures, falling home values (Builder Magazine) |
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Mar. 7--Buffalo spent $30 million over the past quarter century to help people buy homes they couldn't otherwise afford as part of the city's attempt to rebuild blighted communities.
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| Real Estate (Finance and Commerce) |
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For the second consecutive month, home prices in the Twin Cities 13-county metropolitan area showed a year-over-year increase, the Minneapolis Area Association of Realtors said today.
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| Hewitt on Europe (BBC News) |
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Momentum builds for eurozone to rescue Greece
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| Robert Peston (BBC News) |
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Poor RBS, poor Britain: The chilling numbers
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| Robert Peston (BBC News) |
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Government approves £1.3bn of RBS bonuses
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