CHAPTER 7
Funds for Closing: Down Payments and Closing Costs
WITH THE DEMISE of the zero-down loan programs, HUD’s ruling and subsequent banning of all seller-assisted down-payment loans, and all loans being fully documented for income, credit, and assets, it is become more difficult to qualify for a mortgage. In mine and many others’ opinion, there’s nothing really wrong with that. It’s the way the mortgage industry has worked for more than 70 years. That, however, presents a problem when finding money to close on a purchase both in terms of down payments and for closing costs.
In this chapter, we’ll discover how to save on closing costs, which ...
Get Decoding the New Mortgage Market now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
