Remember 20% Down Home Mortages? They are Back!
For those of us Baby Boomers who have been buying homes for years, it was a big surprise a few years ago for us to learn that we could buy a home and get a 100% LTV (loan to value) mortgage. Well, not any more. The banks are finally tightening up and requiring 20% down again. It’s about time.
Over the years, I have owned many homes (I count 24, including the one my husband and I currently own). In the late 1990s, I started to see the 100% home equity loans and I wondered, “Why would people do that?” Even …read more