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How could this happen? (media.piefed.world)

submitted 15 hours ago by The_Picard_Maneuver@piefed.world to c/whitepeopletwitter@sh.itjust.works

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[–] UnderpantsWeevil@lemmy.world 2 points 12 hours ago

Homebuyers can get a conventional mortgage for 5% down (technically as low as 3% down, but that would limit their options for lenders and require a much better credit score) or an FHA loan for as low as 3.5% down.

Only if they are eligible for that line of credit. Since the collapse of the Subprime Mortgage market in '08, it has been significantly more difficult for younger and lower income people to access these more expensive lines of credit.

There are USDA loans that require 0% down, though they have income maximums and for homes in rural areas.

Sure. But, again, a very limited resource with very particular regulatory restraints that won't help a middle income family in most neighborhoods where people actually live.

For veterans, VA loans can also be 0% down.

Great news for all the serial killers down at Fort Bragg