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Silver Beach has a minimum down payment requirement of $30,000, and Edgewater Park requires $20,000 or 10percentt of a sale price, whichever is higher.
I therefore oppose reducing the down payment requirement for FHA mortgages and believe that, as conditions allow, the down payment requirement should be raised.
Supporters of a down payment requirement also make a broader argument.
Some Wall Street firms wanted no down payment requirement at all.
After criticism from housing and consumer groups, regulators decided to drop the down payment requirement.
The down payment requirement on jumbo loans typically is 25 to 30 percent on amounts up to $1.5 million, and then 35 percent and up.
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Check, too, on payment requirements.
Among those specifications are down payment requirements.
The Bush administration is looking to lower down payment requirements, at least temporarily.
There will also be loans with no down payment requirements, he added.
The report also found that such down payment requirements disproportionately affect blacks and Latinos.
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