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Home buying becoming more and more affordable as rents rise

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Mortgage Professional America | 29 Sep 2014, 08:10 AM Agree 0
Good news for the mortgage industry – with the cost of rent getting higher, buying a home is becoming the more affordable choice in many parts of the country
  • C. Holston | | 29 Sep 2014, 10:16 AM Agree 0
    You do not need a 20% down payment!
  • B. Bork | | 29 Sep 2014, 11:10 AM Agree 0
    But without that much down your mortgage balance would be higher, your LTV and therefore your rate would be higher, you would need PMI, and so your payment would be higher. That would change the affordability argument.
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