Comments on: Fannie and Freddie Abandon “Declining Markets” Policy

By: Austin Apartment Locators

Austin Apartment Locators — Thu, 29 Apr 2010 01:52:10 +0000

FHA loans are expensive, but at least they only have to put 3% down. Seems like the easy part is coming up with the money. Hard part is getting qualified on credit and income.

By: David

David — Tue, 27 May 2008 16:40:51 +0000

Holmgren Associates (brokers)

By: david.g

david.g — Tue, 27 May 2008 02:57:59 +0000

You’re right, David, those are expensive. But if someone is determined to buy in this market and have less than 10% down, that might be their only option. There are probably a few of those out there…

That is a nice rate quote – mind sharing which lender out of curiosity?

By: David

David — Tue, 27 May 2008 02:34:01 +0000

FHA loans are expensive.

While Fannie/Freddie might have abandoned a declining market restriction, it doesn’t mean buyers have

Putting 3% down and paying an extra 1.5 points, plus a half point/year (IIRC the FHA loan details) isn’t that attractive to most buyers.

On the other hand, I qualified for a 5.75% 30 yr FRM with just 10% down for a loan in Alameda County. (my FICO is 790, total DTI, 36%)