Asked by Mike, Yonkers, NY • Wed Jun 11, 2008
We are in contracts for a home in Tuckahoe. We are putting down 20% our financial are in order and the house appraised out for our offering price. The banks are regusting 75% financing. They want 20 down and adding 5% because westchester is flaqged for a declining maket zone. Is this something new. While i'm fortunate to have 20% down....there is not to me people out there with 20% let alone 25%. Is this happening to anyone else. It came back from three reputable banks. I guess the banks are really running scared at the moment.
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