Sales of existing homes plunge 17.8% in April to 4.33 million rate, slowest since 2011

It’s really not.

I had to prove two years of stable income. I had to prove several months of maintaining a high reserve balance. I also had to have an excellent credit record.

What this means is that not only is my income incredibly stable, but also I have an emergency fund to pay my expenses for about 6 months.

In 2006, they were checking for none of this. You could get a loan with no income, no job and no assets.

Oh, and I bought less house than I could afford, and there’s also a second income in my household that didn’t go towards those calculations at all. I plan on staying here for a decade.

TL;DR low down payment not always bad.

/r/news Thread Parent Link -