Feeling like 2006...

[lnc]

What's it mean for the markets...

Up market still have couple innings to go and the next downturn will be pretty mild in Irvine. 

 

[irvinebullhousing]

Unless, they are investors and landlord.i guess it's good for them either ways.

Also, I would have reserves if the tenant doesn't pay. It can take a while to evict a person. If the person drags their feet through the process.

Agree. There are options in the legal matters. You can select the right tenant to begin with is the best bet

 

[OCtoSV]

I am ALL for tight restriction and heavy handed scrutiny on mortgage loans. If you can truly afford a home, then get it. Otherwise it will maybe an equation of disaster on your own making. Financially ruin is the worse.

What is wrong with renting????

People on TI don't like the R word. (rent)

My thoughts if you can't afford it then don't buy. My own belief is 20% down or more is the key. Makes the loan affordable in general, depending on the property value. Also, pmi is stinker and those other options 1st and 2nd to avoid PMI, I wouldn't do it.

There are 15% down no MI products available.

 

[Lallo]

Do 15% down no MI products have higher interest rate?  Who does these products? 

 

[sgip]

About .125 in rate higher. Every lender offers these loans now.

My .02c

Soylent Green Is People

 

[OCtoSV]

SGIP - what are 30 yr fixed 20% down jumbos closing at these days? I closed this 15% down no MI loan in early April at 4.5%. Bankrate yesterday quoted average 30 yr fixed jumbo at 4.59%