January 26th, 2013 12:14 PM by Christopher Terry
Have you heard? Several governmental agencies are reviewing data to determine what the minimum down payment requirements will be under the new Qualified Residential Mortgage (QRM) guidelines which are scheduled to be released over then next few months.
One of the original notes suggested that the new minimum down payment should be 20%. You can be sure there will be a great deal of debate over such a change. You can read more about it at: http://www.kcmblog.com/2013/01/23/will-20-soon-be-the-minimum-down-payment-on-a-home/
If you're considering buying a home and have been on the fence about it maybe now's the time to take the leap. With home affordability hitting new highs in 2012 (see http://www.ezhomesearch.net/Home+Affordability+Sets+a+New+Highs ) and interested rates still near generational lows there really has never been a better time.
Not sure where to begin? We have the solution! Take our FREE 30-minute home buyer consultation and put your worries behind you. For more details visit www.ezhomesearch.net/save.
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Christopher Terry is a licensed real estate broker in Ma and RI, has completed the Accredited Buyer Representative Certification, is a graduate of the Certified Distressed Property Institute, holds the prestigious CDPE designation and is the founder of EZ Home Search Real Estate Inc.