Housing

[Camille]

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

[charlestudor2005]

Originally Posted by Camille

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

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.

[Camille]

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

[Guest083011]

Originally Posted by Camille

I'm knackered though... C xx

Damn ya made me google "knackered."

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

[Camille]

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

[Rudyard K]

Originally Posted by charlestudor2005

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.

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.

[Guest083011]

Originally Posted by Camille

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

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

[Guest083011]

Originally Posted by Rudyard K

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

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

[Rudyard K]

Originally Posted by SR Only

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

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

[Guest083011]

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

[Camille]

Originally Posted by SR Only

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

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

[Camille]

Originally Posted by Rudyard K

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

Even Rangoons!

[charlestudor2005]

Originally Posted by Camille

Even Rangoons!

Is that crab rangoon, or is that something diff?

[Camille]

Originally Posted by charlestudor2005

Is that crab rangoon, or is that something diff?

Crab Rangoon...correct Charles

[Guest083011]

Originally Posted by Camille

Even Rangoons!

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