No or low money down mortgages, no it’s not 2006. But it is looking that way through certain prisms.
It looks like there are a few programs from the government that have no money down mortgages. FHA, VA, and USDA have programs that allow new or repeat home buyers get away with no down payment. Now there are eligibility requirements, like I star=ted this is not 2006 with no doc loans. Yet.
There are large banks that have programs requiring only 3% down payments. So there are programs to get people into homes that they will be paying off for decades.
I have young clients who just bought their homes or re in the market. So this can be a very good thing.
Hopefully we can keep the greed levels to under the 2006 – 2008 levels.