Category: Down payments

Cottage underwriting

29 December, 2010 (13:20) | Down payments, Equity, Homeownership, Innovations, Lending, Massachusetts, MassHousing, Underwriting | 2 comments

By: David A. Smith   As an epicurean banker should have observed, some things utterly unscalable can be sustained in miniature – as revealed by this curiously ambivalent Boston Globe article on a MassHousing-administered helping hand to a lucky few:   Shouldn’t all borrowers look this presentable? Boston Globe: Jean Marie Sideris purchased this Cambridge […]

Saving precedes borrowing

11 July, 2005 (09:30) | Down payments, Homeownership, Mortgages, Soft debt, Theory |

By far the most common barrier to first-time homeowner is the down payment, so it will come as no surprise that many government programs offer low down payments or down payment assistance — to say nothing of the friends, relatives, and above all parents who offer up gifts (or their close counterpart, the informally-soft loan, […]