[:en]Buying a Home with as Little as 3-5% Down Payment[:es]Compre una casa con tan poco como el 3 al 5 % de cuota inicial [:]

[:en] 

We have recently reported on the misconception that many buyers have regarding the down payment necessary to purchase a home. Multiple studies reveal that 40-50% of Americans believe you need between 15-20% of a down payment to be eligible to purchase a home.

This misconception came about as the government just last year debated new guidelines for residential mortgages because of the housing collapse in 2007. Some were arguing that there should be a minimum of 20% or even 30% down payment on all mortgage loans. However, those standards were never implemented.

To counter this misunderstanding, Christina Boyle, Freddie Mac’s VP and Head of Single-Family Sales & Relationship Management, in a recent Executive Perspectives explained that a person “can get a conforming, conventional mortgage with a down payment of as little as 5 percent”.

3% Down Payments Available Soon?

Just last week, Federal Housing Finance Agency Director Mel Watt announced that mortgages requiring only a three percent down payment may soon be available:

“To increase access for creditworthy but lower-wealth borrowers, FHFA is also working with the Enterprises to develop sensible and responsible guidelines for mortgages with loan-to-value ratios between 95 and 97 percent. Through these revised guidelines, we believe that the Enterprises will be able to responsibly serve a targeted segment of creditworthy borrowers with lower-down payment mortgages by taking into account “compensating factors.”

Bottom Line

If you are saving for either your first home or that perfect move-up dream house, make sure you know all your options. You may be pleasantly surprised.[:es]

Buying a Home for as Little as 3-5% Down | Keeping Current Matters

Recientemente informamos acerca de la idea errónea que muchos compradores tienen en cuanto a la cuota inicial necesaria para comprar una casa. Múltiples estudios revelaron que 40-50 % de los estadounidenses creen que se necesita entre 15 a 20 % de la cuota inicial para ser elegible para comprar una casa.

Ese error salió el año pasado cuando el gobierno estaba en debates sobre las nuevas directrices para las hipotecas residenciales, a causa del colapso del sector de la vivienda en 2007. Algunos estabas discutiendo que debía haber un mínimo del 20 % o incluso 30 % de cuota inicial en todos los préstamos hipotecarios. Sin embargo, esas directrices nunca se aplicaron.

Para contrarrestar este malentendido Christina Boyle, Freddie Mac’s VP and Head of Single-Family Sales & Relationship Management, en una perspectiva ejecutiva reciente explico que una persona “puede obtener una hipoteca convencional, conforme con una cuota inicial de tan poco como el 5 por ciento”.

¿Estará disponible pronto una cuota inicial del 3 %?

Apenas la semana pasada, Mel Watt director de Federal Housing Finance Agency anuncio que las hipotecas que requieren solo el tres por ciento de cuota inicial tal vez estarán disponibles pronto:

“Para aumentar el acceso para los prestatarios dignos de crédito pero con patrimonio más bajo, FHFA está también trabajando con las empresas para desarrollar directrices sensatas y razonables para préstamos con coeficientes préstamo-valor entre 95 y 97 por ciento. A través de estas directrices, creemos que las empresas podrán atender responsablemente a un segmento objetivo de prestatarios dignos de crédito, con hipotecas con baja cuota inicial teniendo en cuenta “los factores de compensación”.

En conclusión

Si usted está ahorrando para su primera casa o para esa mudanza perfecta a la casa de sus sueños, asegúrese que usted conoce todas sus opciones. Se puede llevar una sorpresa agradable.

[:]

[:en]Buying a Home with as Little as 3-5% Down Payment[:es]Compre una casa con tan poco como el 3 al 5 % de cuota inicial [:]



[:en]  We have recently reported on the misconception that many buyers have regarding the down payment necessary to purchase a home. Multiple studies reveal that 40-50% of Americans believe you need between 15-20% of a down payment to be eligible to purchase a home. This misconception came about as the government just last year debated ...

Continue Reading

[:en]Buying a Home with as Little as 3-5% Down Payment[:es]Compre una casa con tan poco como el 3 al 5 % de cuota inicial [:]



[:en] 

We have recently reported on the misconception that many buyers have regarding the down payment necessary to purchase a home. Multiple studies reveal that 40-50% of Americans believe you need between 15-20% of a down payment to be eligible to purchase a home.

This misconception came about as the government just last year debated new guidelines for residential mortgages because of the housing collapse in 2007. Some were arguing that there should be a minimum of 20% or even 30% down payment on all mortgage loans. However, those standards were never implemented.

To counter this misunderstanding, Christina Boyle, Freddie Mac’s VP and Head of Single-Family Sales & Relationship Management, in a recent Executive Perspectives explained that a person “can get a conforming, conventional mortgage with a down payment of as little as 5 percent”.

3% Down Payments Available Soon?

Just last week, Federal Housing Finance Agency Director Mel Watt announced that mortgages requiring only a three percent down payment may soon be available:

“To increase access for creditworthy but lower-wealth borrowers, FHFA is also working with the Enterprises to develop sensible and responsible guidelines for mortgages with loan-to-value ratios between 95 and 97 percent. Through these revised guidelines, we believe that the Enterprises will be able to responsibly serve a targeted segment of creditworthy borrowers with lower-down payment mortgages by taking into account “compensating factors.”

Bottom Line

If you are saving for either your first home or that perfect move-up dream house, make sure you know all your options. You may be pleasantly surprised.[:es]

Buying a Home for as Little as 3-5% Down | Keeping Current Matters

Recientemente informamos acerca de la idea errónea que muchos compradores tienen en cuanto a la cuota inicial necesaria para comprar una casa. Múltiples estudios revelaron que 40-50 % de los estadounidenses creen que se necesita entre 15 a 20 % de la cuota inicial para ser elegible para comprar una casa.

Ese error salió el año pasado cuando el gobierno estaba en debates sobre las nuevas directrices para las hipotecas residenciales, a causa del colapso del sector de la vivienda en 2007. Algunos estabas discutiendo que debía haber un mínimo del 20 % o incluso 30 % de cuota inicial en todos los préstamos hipotecarios. Sin embargo, esas directrices nunca se aplicaron.

Para contrarrestar este malentendido Christina Boyle, Freddie Mac’s VP and Head of Single-Family Sales & Relationship Management, en una perspectiva ejecutiva reciente explico que una persona “puede obtener una hipoteca convencional, conforme con una cuota inicial de tan poco como el 5 por ciento”.

¿Estará disponible pronto una cuota inicial del 3 %?

Apenas la semana pasada, Mel Watt director de Federal Housing Finance Agency anuncio que las hipotecas que requieren solo el tres por ciento de cuota inicial tal vez estarán disponibles pronto:

“Para aumentar el acceso para los prestatarios dignos de crédito pero con patrimonio más bajo, FHFA está también trabajando con las empresas para desarrollar directrices sensatas y razonables para préstamos con coeficientes préstamo-valor entre 95 y 97 por ciento. A través de estas directrices, creemos que las empresas podrán atender responsablemente a un segmento objetivo de prestatarios dignos de crédito, con hipotecas con baja cuota inicial teniendo en cuenta “los factores de compensación”.

En conclusión

Si usted está ahorrando para su primera casa o para esa mudanza perfecta a la casa de sus sueños, asegúrese que usted conoce todas sus opciones. Se puede llevar una sorpresa agradable.

[:]

[:en]Buying a Home with as Little as 3-5% Down Payment[:es]Compre una casa con tan poco como el 3 al 5 % de cuota inicial [:]



[:en]  We have recently reported on the misconception that many buyers have regarding the down payment necessary to purchase a home. Multiple studies reveal that 40-50% of Americans believe you need between 15-20% of a down payment to be eligible to purchase a home. This misconception came about as the government just last year debated ...

Continue Reading
Copy Preview Copy Full Post
Copied! Go to your email or CRM and paste it.
Unable to Copy to Clipboard
Copy & Paste

You can easily email your Blog Posts in your current email platform or CRM by using the copy options here! After selecting Copy, you can then open an email in your email platform or CRM and Paste. You can select Copy Preview to include an intro to your blog post, with a link to Continue Reading on your Personalized Homepage, or Copy Full Post to copy the entire blog post. You can learn more about this feature by click here.

'


The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.