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To: Night Hides Not

I’d even say 10% if you have other assets out there and over a 720 FICO.

Less than 10% is really where things get hairy...but I’ll even concede that 3% down FHA loans really didn’t have major losses until they started using it as a subprime substitute.


27 posted on 06/10/2011 8:31:51 AM PDT by RockinRight (Who is "Generic Republican" and why does he poll so much better against Obama than anyone else?)
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To: RockinRight
I’d even say 10% if you have other assets out there and over a 720 FICO.

Throw in 3 years of verifiable income, and I think we've got it licked.

A "one size fits all" approach just doesn't work, but common sense does. If I'm a mortgage lender, I would demand 25% down (or more) from attorneys, due to their sophistication and knowledge of ways to get around the system.

Attorneys have a poor reputation when it comes to paying their bills on time.

36 posted on 06/10/2011 8:39:14 AM PDT by Night Hides Not (If Dick Cheney = Darth Vader, then Joe Biden = Dark Helmet)
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