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Old 07-16-2008, 01:52 PM
 
Location: Happiness is found inside your smile :)
3,178 posts, read 14,193,884 times
Reputation: 1294

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We are a 40% down family looking to relocate - so I don't know if this will inhibit our buying power? Or maybe it will get rid of bidding competition?

Mortgage Insurers Raise Bar - WSJ.com
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Old 07-16-2008, 02:11 PM
 
Location: Barrington
63,952 posts, read 43,785,276 times
Reputation: 20636
With a 40% downstroke, this does not apply to you.
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Old 07-16-2008, 02:20 PM
 
28,460 posts, read 81,014,092 times
Reputation: 18662
HEY, great link. The broker they quoted is a pal of mine, I have to dig out his email, he is famous now.

Anyhow, to your situation, if you have a nice big pile of cash you are, with out a doubt, in the proverbial cat-bird seat!!! Give yourself a big pat on the back, but don't break your arm, 'cause it's not just going to have the primary/intended effect of shoving the bad risks out of the picture, but I can almost predict some "unintended" consequences of the p.m.i. -- one is that you are going to have a some developers really taking sides in the "high end, low density" vs "affordable , high density" war. I would hate to have a dog in that fight...
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