

3,447,516
HELL-0
NO!!!
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Kathleen Daniels, Prob...
San Jose, CA
-
Raymond E. Camp
Ontario, NY
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
-
Wayne Martin
Oswego, IL
-
Fred Griffin Florida R...
Tallahassee, FL
-
Steve Higgins
Kelowna, BC
-
Bob "RealMan" Timm
Minot, ND
-
Wanda Kubat-Nerdin - W...
St. George, UT
3,303,520
You lost me at government, John. Not much of what they're doing is helping anyone but themselves!
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Candice A. Donofrio
Fort Mohave, AZ
-
Lyn Sims
Schaumburg, IL
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
-
Kris Collis, Associate...
East Stroudsburg, PA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Steve Higgins
Kelowna, BC
-
Bob "RealMan" Timm
Minot, ND
-
Kathleen Daniels, Prob...
San Jose, CA
1,478,391
Your question is misleading, John Meussner, since a reader might believe that all that is needed for a $1M Freddie Mac or Fannie Mae loan is a 5% downpayment. Also, if the reader is not paying attention, the reader may believe that this program is available everywhere, not just in "high cost" areas.
The loans would still need to be fully and properly underwritten with all exiting criteria regarding income, credit and whatever else the underwriters require.
Fannie and Freddie standard limit for loans not in "high cost" areas will be $726,200.
According to this article from Mortgage News Daily.
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David M. Dwares
Fort Lauderdale, FL
-
Candice A. Donofrio
Fort Mohave, AZ
-
Andrew Mooers | 207.53...
Houlton, ME
-
Lyn Sims
Schaumburg, IL
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
-
Kris Collis, Associate...
East Stroudsburg, PA
-
Steve Higgins
Kelowna, BC
2,717,898
It will Help Sellers unload their properties.
It will help Buyers over-extend themselves, and get buried in debt.
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Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Lyn Sims
Schaumburg, IL
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
2,562,004
Short answer NO! My answer to your elongated question is not if the only qualification is that they have 5% down. Hopefully they demand a three to five year track record of making a profit.
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Candice A. Donofrio
Fort Mohave, AZ
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Gary Frimann, CRS, GRI...
Gilroy, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
-
Steve Higgins
Kelowna, BC
-
John Juarez
Fremont, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
5,558,401
It's a double-edged sword, John. I want to say no but, I'm not in a high cost area. As well, it will HELP the market by moving some of these higher priced homes.
So, in a nutshell, it depends!
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Debe Maxwell, CRS
Charlotte, NC
-
John Meussner
Fair Oaks, CA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Greg Large
Grove City, OH
-
Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Gary Frimann, CRS, GRI...
Gilroy, CA
5,558,724
For fear of getting into trouble, I am simply going to agree with Wanda Kubat-Nerdin - Wanda Can! and Kathleen Daniels, Probate & Trust Specialist and move on!
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Kathleen Daniels, Prob...
San Jose, CA
-
Raymond E. Camp
Ontario, NY
-
Bob "RealMan" Timm
Minot, ND
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
1,314,033
Not a fan there but the devil is definitely in the details.
-
Bob "RealMan" Timm
Minot, ND
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Brian England
Gilbert, AZ
-
Steve Higgins
Kelowna, BC
-
John Meussner
Fair Oaks, CA
-
Peter Mohylsky,
Inlet Beach, FL
5,388,691
NO, NO, NO!
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Fred Griffin Florida R...
Tallahassee, FL
-
Kathleen Daniels, Prob...
San Jose, CA
-
Raymond E. Camp
Ontario, NY
-
Bob "RealMan" Timm
Minot, ND
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Carol Williams
Wenatchee, WA
5,055,828
I think that having a higher loan limit helps since prices have risen so high. I don't trust the government to do the right thing though.
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Kathleen Daniels, Prob...
San Jose, CA
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
6,765,600
I am sure that it helps us to sell a few more high end properties, though I personally am not a fan of having the govt involved in the housing market.
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Bob "RealMan" Timm
Minot, ND
-
Gary Frimann, CRS, GRI...
Gilroy, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Carol Williams
Wenatchee, WA
-
Nina Hollander, Broker
Charlotte, NC
-
Brian England
Gilbert, AZ
1,666,868
Sure, why not. Most importantly perhaps is they are setting as a benchmark certain proven underwriting standards.
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Kathleen Daniels, Prob...
San Jose, CA
-
Nancy Frimann
Gilroy, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
2,872,226
We will need more than ever the help of lenders/banks to vet correctly all applying for funds. If THEY decide it is worthy, then proceed as it will be business as usual. As far as having a loan program available for that amount, with the price of Real Estate, cars and technology on the rise and still moving, that is exactly what these loans are designed to do i.e., allowing people to be a player and keep the economy-machine going.
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Bob "RealMan" Timm
Minot, ND
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Richard Alan Naggar
Riverside, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Brian England
Gilbert, AZ
-
John Juarez
Fremont, CA
1,875,168
Seems like a 1M FHA loan of sorts. There all kinds of wacky products coming back on the market so here's an example of another one.
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Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
-
Wanda Kubat-Nerdin - W...
St. George, UT
1,113,018
I'm not sure the government needs to be any more involved in the housing market than it is. Having said that, IF the borrower is qualified to leverage their money . . . sure.
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John Meussner
Fair Oaks, CA
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Bob "RealMan" Timm
Minot, ND
8,236,767
This program does not bother me. The borrowers need to be qualified for the financing.
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
682,176
clearly the gubment doesn't give a hoot about what people with a lick of sense think, so not gonna give this a second thought.
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Kathleen Daniels, Prob...
San Jose, CA
-
Debe Maxwell, CRS
Charlotte, NC
1,546,224
They will help the future foreclosure market as people will be in way over their heads yet again. Loan programs, proof that we learn nothing from our mistakes.
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Kathleen Daniels, Prob...
San Jose, CA
-
Debe Maxwell, CRS
Charlotte, NC
1,513,143
I am not a fan of government in any respect to our daily lives.
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
796,639
I think it's great as move up buyers allow lower priced buyers the opportunity to buy a house.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
1,269,043
The 5% down does not hedge when home valuation falls like now. With the recent firing in high tech, I wonder if some the entranched employees can hold on to their homes. Time will tell.
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Sam Shueh
San Jose, CA
383,254
I sort of have a mixed reaction to this for my local market. The higher loan limits are helpful here...but most buildings here are portfolio lending. Most condos here are seeking a minimum of 10% down and most co-op's require a minimum of 20% down.
Overall outside my local market- While I do like the higher limits in high cost areas- the 5% down aspect troubles me.
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Kathleen Daniels, Prob...
San Jose, CA
944,471
I think it was needed. Home averages have gone up. Also, if a person can afford that payment, there's a good chance they have money elsewhere or have a lot of potential.
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Kathleen Daniels, Prob...
San Jose, CA
929,725
Hurt - these relaxed terms will expedite a market crash.
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Kathleen Daniels, Prob...
San Jose, CA
426,317
As a former veteran, I say in some cases, but not all.
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Debe Maxwell, CRS
Charlotte, NC