Conversely, another user, Afaf Abdel Maged, said: "I will apply for the unit, despite the increase in the down-payment, as I need the apartment urgently.
In a televised statement on a satellite channel Saturday, executive director of the social housing project Salah Hassan said the increase in the down-payment of housing units for low-income citizens is to measure the seriousness of the applicant.
The China Banking Regulatory Commission had said last week that it had not changed its policy on a minimum down-payment
of 30 percent for first-home purchases and 60 percent for second-home purchases, or its requirement that mortgage rates be no less than 1.
There's one other important argument for shifting our attention to down-payment assistance.
In a recent study of low- and moderate-income households, I compared the impact of mortgage rates and down payments on mortgage defaults and estimated the cost of two hypothetical government programs: one that subsidizes mortgage rates and one that provides down-payment assistance.
Roughly 175 customers signed up for seller-funded down-payment
assistance from Long Island-based Continental Home Loans after the company instituted a $1,000-down program a year ago, said Continental president Michael McHugh.
The ruling noted that an organization using seller funding for its down-payment
assistance program does not get taxexempt status because it is not construed to be operating exclusively for charitable purposes.
From 2000 to 2004, the total proportion of FHA-insured loans with down-payment
assistance grew from 35 percent to nearly 50 percent.
My recollection is they had other sources of construction money lined up, but now they are requesting to use the $1 million down-payment
money set aside for them for construction costs.
Home theater systems, gift certificates and coupons go hand in hand with no points, no fees and low down-payment