225: Meet the New Zero-Down Mortgage + Why Lumber Prices Are Dropping

Jun 13, 2024

Explore the comeback of zero-down mortgages and the risks involved. Learn about the new zero-down mortgage option and updates on high interest rates. Analyze house prices per square foot for potential flips and impacts of high interest rates on wood markets. Delve into international housing market trends, investment opportunities, and tax strategies. Discuss house price decreases post-pandemic and complexities of different housing markets worldwide.

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ANECDOTE

Kathy's Lending Experience

Kathy Fettke was a loan officer during the "ninja loan" era.
She supports zero-down loans if borrowers can afford payments and avoid overpaying.

ADVICE

Affordability and Education

Don't just complain about affordability; support solutions while educating buyers.
Banks must thoroughly vet borrowers, and buyers need education on homeownership costs like taxes and insurance.

ANECDOTE

Red Robin Closing

James Dainard recalls signing his first loan documents at Red Robin.
He emphasizes that current lending practices, including DTI checks and third-party appraisals, are stricter than in 2008.

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