We've been busy since Valentine's Day, and are finally able to get Gino's important message posted on this President's Day holiday. This 20% down rule is definitely limiting buyer's financing options in this area.
By Gino Blefari
President & CEO
Intero Real Estate Services, Inc.
The issue of mandated down payments is back in the spotlight as a recently released study found that requiring by law a minimum down payment of 20% would have a dramatic, negative short-term impact on the housing market. The study, released by the Center for Responsible Lending at the University of North Carolina, found that implementing such a mandate would push out 60% of would-be home buyers from the market.
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