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Banks Requiring HIGHER Downpayments - Coeur d'Alene Idaho Homes and Land For Sale

Coeur d'Alene Idaho homes and land for Sale.

Banks requiring higher downpayments from Buyers

Banks are trying to mitigate their risk as home prices continue to fall by requiring higher down payments from Buyers.Uncle Sam Cash  They also feel Buyers that pay higher downpayments are less likely to default.

The Obama administration has called for the gradual increase of down payments to a minimum of 10% on conventional loans (that can be purchased or guaranteed by Fannie Mae and Freddie Mac). 

Right now the median downpayment in the fourth quarter of 2010 rose to approximately 22% on Conventional Loans.  This is the highest median down payment since 1997, according to a Wall Street Journal and analysis.

Buyers that can qualify for USDA, FHA and or/VA loans can still purchase with 3.5% down payment.


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Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)
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Coldwell Banker Schneidmiller Realty
1924 Northwest Blvd, Coeur d'Alene ID 83814


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Comment balloon 3 commentsPam Jank • February 16 2011 02:39PM


Pam, very interesting information, Ironically this is not front page news. It is under the radar and then people will be wondering why there are a decrease in Real Estate Purchase. There are many good qualified buyers who lack the Down payment and now that will increase?Wow we are in interesting times.

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) over 9 years ago

Endre, I'm amazed at how many real estate agents don't know about this.  They end up finding out when the Buyer they have been working with finds out they no longer have the required funds to qualify for financing....  Hard way to learn

Posted by Pam Jank, Your Coeur d'Alene & North Idaho Real Estate Pro (Coldwell Banker Schneidmiller Realty) over 9 years ago

Pam, I wonder what's going to happen with phasing out Fannie and Freddie. We could see higher down payment requirements when lending is more privatized.

Posted by Sharon Alters, Realtor - Homes for Sale Fleming Island FL (Coldwell Banker Vanguard Realty - 904-673-2308) over 9 years ago