Quote:
Originally Posted by Realtor 1
Hiking the down payment to 10% would be crazy. I think it would kill any recovery we have seen.
For many of my buyers 5% is a good chunk of change. I think 5% is a great number because it shows that you can save but doesnt have to leave you stranded for years in recovery mode.
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If 5% is a good chunk of change for many of your buyers then these buyers are going to be in trouble when rates eventually start trending up putting downward pressure on the market.