February 24, 2007

41% have no downpayments

Business – Homebuyers ditching the down payment – sacbee.com

16-homes1embeddedprod_affiliate4.gif
The Realtors group also says that 41 percent of first-time homebuyers in the state have abandoned the notion of putting their own money into the deal. Nationally, percentages are even higher.

Nearly 30 percent of buyers and 45 percent of first-time buyers no longer make down payments, says the National Association of Realtors.

“Frankly, I didn’t realize it was that easy to do,” says Doug Self, who used 100 percent financing last year to buy a house in Citrus Heights.

Well all the cool kids are doing it

Click here to post a comment -- Posted by: burbed @ 5:57 am

No Responses to “41% have no downpayments”

  1. waiting_for_the_fall Says:

    Is no downpayment the new paradigm?

  2. JasonofsoCal Says:

    “Is no downpayment the new paradigm?”

    Indeed it is. Much like the fabled “new economy” of 1999. ;-)

  3. bub Says:

    Oh, jingle mail, jingle mail
    Jingle all the way
    Oh, what fun it is to ride past the bank on the way out of town….


Leave a Reply

Please be nice. No name calling, no personal attacks, no racist stuff, no baiting, etc. Let's be nice to each other in the true Bay Area spirit! (Comments may be edited/removed without notice.)