Tag archives for Down Payment

Biggest Down Payments in the Country Found in New Jersey

According to LendingTree, the national average down payment on a home today is 12.29 percent. However, in New Jersey borrowers are putting down nearly 1.5 percent more than that, making down payments in New Jersey the highest in the country at 13.76 percent. The state is followed closely by Washington, D.C. with 13. 54 percent, New York with 13.51 percent, Read full article »

Department of Justice’s Fair Lending Unit Could Create a New Housing Mess

The U.S. Treasury Department is stepping in where the current housing crisis left off with a new “fair lending unit” that demands that once again, banks make loans not based on credit scores or worthiness, but based on race and ethnicity. “The foreclosure crisis…disproportionately touches communities of color,” explains Thomas Perez, head of the department’s civil rights division. He explains Read full article »

USDA Announces Nothing-Down Financing Program for Rural Buyers

One of the biggest problems that many rural housing markets have is that the properties on the market do not qualify for aid from federal programs. As a result, even if buyers are qualified to purchase properties, they are not able to take advantage of federal incentives and ultimately opt to buy elsewhere. This is a problem in areas like Read full article »

Down Payments On the Rise

Last week the Obama administration called for lenders to raise down payments on properties to a minimum of 10 percent on conventional loans, but that number is likely going to be on the low end of the spectrum. In fact, private lenders are already pushing the numbers higher in an effort to mitigate risk as home prices fall, reported the Read full article »

Government Could Be Hindering Housing Recovery

Yesterday the House of Representatives held a hearing to “examine private sector involvement in the housing market in order to determine if the high amount of government participation is a hindrance to the sector’s recovery.” The verdict? There is probably too much government support in the industry. Currently, the FHA, Fannie Mae and Freddie Mac together share in more than Read full article »

The Politics of Real Estate

Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.

Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.

About Bryan Ellis

Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.

Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.

Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.