Wednesday, January 18, 2012

Down payment

  • Nearly three-quarters of African-American and Latino mortgage borrowers could be excluded from affordable homeownership if federal regulators approve a proposal to require 20 percent down payments, according to a study released Wednesday.
  • (Huffington Post)
  • BUYERS in New Jersey have the highest down-payment rate in the country, putting down an average 13.71 percent of the purchase price, according to a new report from LendingTree.
  • (New York Times)
  • WASHINGTON, Jan. 18, 2012 /PRNewswire-USNewswire/ -- As federal regulators consider setting down-payment standards on new mortgages, a new study shows such rules could push 60 percent of creditworthy borrowers into high-cost loans or out of the market altogether.
  • (StreetInsider.com)
  • CORPUS CHRISTI — Canyon Supply and Logistics did not make its Monday night deadline to pay $19 million and finish a down payment on the former Naval Station Ingleside property.
  • (Corpus Christi Caller)
  • A. The down payment is the property value less the loan amount. It is not the same as the borrower's cash outlay if some of that outlay is used for settlement costs. On a newly constructed home, the land value can be part or all of the down payment.
  • (Arlington Heights Daily Herald)
  • Energy Secretary Steven Chu announced Friday evening that the U.S.
  • (Portsmouth Daily Times)
  • The "Gables" floorplan includes: Home buyers can also choose from several extra incentives such as low down payment financing and a $5,000 Internet Incentive for buyers visiting the website.
  • (YAHOO!)
  • BURLEIGH — What began as a vision to open a daily soup kitchen in Cape May County has turned into a last minute effort to raise $50,000 for a down payment on the facility or eviction happens April 1.
  • (Cape May County Herald)
  • A Tinley Park man called the cops around 6:10 p.m. after he realized someone used his Discover card without his permission. Two separate withdrawals — one totaling $1,000 and the other, $3,500 — were made in December and a purchase of $376.
  • (Patch)
  • Buyers will need to pay for all inspections, appraisal, good faith money, and provide a down payment. With new "PMI" Private Mortgage Insurance, this could be several thousand dollars.
  • (PRLog (free press release))

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