Highlands NC real estate is sure to benefit from lower down payments requested from lenders. While 20% is thought of as the standard, many lenders are now accepting 15% for wealthier clients. This is great news for the Highlands real estate market as many of our homes are luxury homes. While not all banks and lenders have dropped the down payment requirement to 15%, many of the larger lenders have, including Bank of America and Wells Fargo.
Highlands NC real estate has improved with a loosening of the mortgage industry. The easier it is for buyers to secure loans the more homes will sell and this has been helping markets all across the nation after lending came to a virtual standstill during the recession. Highlands luxury homes tend to stand on more solid footing as buyers tend to be more financially stable and capable of more borrowing power.
Contact us today to learn more about buying and selling Highlands real estate. We keep our fingers on the pulse of the market in order to keep our clients educated and up to speed. We know Highlands NC and we know Highlands real estate!
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.