Lower down payments are great for Hinsdale IL real estate, undoubtedly leading to more sales as lending practices loosen. A recent article from Market Watch suggested that 15% may be coming the new 20% when it comes to standards for down payments for a home and that the wealthy are the ones benefiting. This coupled with lower rates for jumbo loans is good news for the Hinsdale real estate market.
The recession tightened up lending practices throughout the US and now that a lower down payment may be used to secure a loan plenty of home buyers may be lured off the fence. A number of people are reluctant to let go of their cash and saving 5% for your wallet is seen as enticing. The number of Hinsdale homes selling is on the rise as the economy continues its path to recovery and value is seen in buying before rates rise.
Contact me, Linda Feinstein, today to learn more about current market conditions in Hinsdale Illinois. I keep my fingers on the pulse of the market in an effort to keep my clients up to date and informed. I welcome the opportunity to share my knowledge of Hinsdale real estate with you.
Click here to read “For down payments, 15% is the new 20%: Lenders are easing loan demands on wealthy borrowers as home prices rise,” from Market Watch.