Given your credit standing and other factors, you may qualify for a better rate with one lender than another. Often it’s hard to tell a good offer from a bad one without shopping around, so pick up the phone, check online sites and let lenders battle for your business.
This means that right now, today, lenders can offer FHA-insured subprime loans, loans where the lender has no risk because the FHA provides 100% coverage for any lender losses. Do lenders make such loans? Not hardly.
The need for Wall Street Reform arose precisely because the financial industry was under-regulated. No less an authority than Alan Greenspan, the former head of the Federal Reserve and chief architect of the less-regulation approach, told Congress in 2008 that “those of us who have looked to the self-interest of lending institutions to protect shareholders equity, myself included, are in a state of shocked disbelief.”
Brickman takes to helm of one of the largest mortgage companies in the U.S. today, and while times at the government-sponsored enterprise are filled with uncertainty, Brickman sees nothing but excitement for the future of Freddie Mac.
When buying a home, many Americans consider a 20% down payment to be the norm, the ideal amount of money to put down to get a conventional mortgage with no private mortgage insurance and to keep monthly payments reasonably affordable.