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andreat
LIF Infant
Member since 10/06 155 total posts
Name:
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LTV Ratio? Downpayment?
Just trying to get an idea of what sort of downpayments are being required of people buying homes these days? I know gone are the days of 110% financing or even 5% down. But I wasn't sure what sort of LTV ratios mortgage companies accept.
Thanks in advance.
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Posted 5/1/08 9:04 AM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: LTV Ratio? Downpayment?
you can still put as little as 3% down if you have great credit
by the banks are really looking at the loan to value-
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| Posted 5/1/08 9:34 AM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: LTV Ratio? Downpayment?
I have been told that there are banks still doing a 1st & 2nd mortgage so it is possible to still put 5% as long as you have great credit. I think that you really have to do your homework and go to a few banks. I hear Bank of America has a 1st time home program where you have to go to a counselling class and you are able to avoid PMI and Wachovia still will do 2 mortgages.
Good luck
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| Posted 5/1/08 10:38 AM |
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