Local Banks May Have Lower Down Payment Requirements
April 23rd, 2009 | categories: Buying Real Estate in Coconut Grove
James Venney of JuicyEstates.com wrote a post this morning regarding the down payment requirements of large lenders vs. local banks. The difference could be as much as 10% less for the local banks on Jumbo Loans. James says that the local banks are smaller and can adapt quicker and easier to local market conditions.
His post The Rise Of The Regionals, Filling The Funding Gap is definitely worth a read if you are in the market for a loan in the $525,000 to $1,500,000 range (in other words, a Jumbo loan). Thanks James.
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