No-down mortgages make a comeback
Two small Bay Area lenders have begun offering home loans with no money down and no mortgage insurance — offers rarely seen since the housing bubble burst. No-money-down loans were popular before the financial crisis, but many went bad when housing prices started falling and people who owed more than their homes were worth stopped making payments. For borrowers who need larger loans, San Francisco Federal Credit Union is offering a first mortgage for up to 100 percent of the purchase price or appraised value, whichever is less. Читать дальше...