Date: 2009-09-24 02:16 pm (UTC)
FHA loans are insured by the gov't - and allows first time homebuyers to put down as little as 3% and a credit score as low as 580 (conventional loans require a credit score over 640, typically closer to 720). The gov't had multiple programs to encourage this demographic to buy homes, including tax breaks and grants.

Then you have subprime lending - very risky - and often with adjustable rates. This is where a lot of people got into trouble - and many people think they should have never been given loans in the first place.
This account has disabled anonymous posting.
If you don't have an account you can create one now.
No Subject Icon Selected
More info about formatting

Profile

mellicious: Quote from Buffy the Vampire Slayer's 1st episode: "The earth is doomed." (Default)
mellicious

December 2024

S M T W T F S
1 2 345 6 7
8 9 1011 1213 14
151617181920 21
2223 2425 262728
2930 31    

Most Popular Tags

Style Credit

Expand Cut Tags

No cut tags
Page generated Jul. 4th, 2025 06:46 pm
Powered by Dreamwidth Studios