Buyers who qualify for conventional financing can purchase a home for over $500,000 while only putting down a 5% down payment. This is quite a difference from when I started in the business. The maximum loan amount that could be financed through Fannie Mae in 1986 was $133,250. This opens up more opportunities for buyers wishing to qualify for more home with less of a down payment. This isn't like years ago where the leniency in lending laws caused an avalanche in foreclosures due to poor lending practices. Using sound judgment, lenders ensure your ability to qualify for these mortgages. Dodd-Frank requires lenders to make sure that they qualify to buy.
For more information please call me at (484)-695-5972 or visit our website at www.abacusmort.com
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