Leave a comment » Distressed Market and FNMA AnnouncementFNMA announced today that it's raising its Loan to Value (LTV) limits.FNMA announced today that it's raising its Loan to Value (LTV) limits. This means that home buyers can put a lot less money down to buy their dream home. It all sounds great, right? Fabulous news! NOT Really!Well it's not as it seems just like all the other announcements that have been made recently. FNMA is trying hard, but we need to look at other factors.
If you are a home buyer in the Pasadena and surrounding cities, be prepared to still come up with a significant downpayment between 20% and 25% down. There are investors that are offering programs with less money down, but they require FICO scores higher than 700 and at least 6 months of payments in reserves. Mortgage industry guidelines and programs are changing on a daily basis. |
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Read More: Pasadena foreclosure property list
http://www.pasadenacarealestatehomes.com/007682
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