Looking for some real estate advice, haven't started working with a broker but have been using redfin/zillow/craigslist/etc.
In this economy, is 20% down still required? My wife and I have a pretty good credit score (around 820ish) and I found a starter home within our budget...If I really bear down the next couple of months, I can safely put down about 10-15%. If this was three years ago, they would have been begging for a purchase but I have heard some recent horror stories.
Is it worth even getting seriously involved if I don't have the 20% available...I carry no debt but I am self employed and I know they don't look too kindly on that, from a mortgage standpoint.
Any advice would be appreciated...Thanks, CSFBB
PS-If it matters, it is in Orange County and the asking price is $ 599,000.00
In this economy, is 20% down still required? My wife and I have a pretty good credit score (around 820ish) and I found a starter home within our budget...If I really bear down the next couple of months, I can safely put down about 10-15%. If this was three years ago, they would have been begging for a purchase but I have heard some recent horror stories.
Is it worth even getting seriously involved if I don't have the 20% available...I carry no debt but I am self employed and I know they don't look too kindly on that, from a mortgage standpoint.
Any advice would be appreciated...Thanks, CSFBB
PS-If it matters, it is in Orange County and the asking price is $ 599,000.00