Downpayment requirements fall for 30-year, FRMs
Downpayment requirements on 30-year, fixed-rate purchase mortgages continued to decline as home prices rose, LendingTree claimed in a new report.
"Lenders are putting more focus on purchase mortgages and are adjusting minimum requirements to attract borrowers," said Doug Lebda, LendingTree founder and CEO. "With home values improving, the risk of borrowers defaulting on loans has decreased, giving lenders more confidence to lend with less cash down from qualified borrowers."
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