Palm Springs, Calif., has been a redoubt for snowbirds and show business royalty at least since the 1930s.
Down Payments Are Shrinking
January 26, 2015
More lenders are lowering down payment requirements, Realtor.com reports. Buyers can now commit just 3 percent of a home’s purchase price to get a mortgage.
Some lenders are also waiving mortgage-related fees. These deals are aimed at buyers with good credit scores and a steady income who are not able to save enough for a large down payment, especially those that live in expensive housing markets.
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