Michigan CG
Elite Member
- Joined
- Nov 1, 2006
- Professional Status
- Certified General Appraiser
- State
- Michigan
Residential gurus please help.....
The house we want to buy is a Fannie Mae repo. The people who have made an offer have no money down....100% financing, seller paying closing costs. They were rejected by the original lender because of declining value on appraisal.
Realtor just called me and said it looks like they might get the house because it is a Fannie Mae.
Are they really still lending 100% especially in declining markets?
Thanks for your time.
The house we want to buy is a Fannie Mae repo. The people who have made an offer have no money down....100% financing, seller paying closing costs. They were rejected by the original lender because of declining value on appraisal.
Realtor just called me and said it looks like they might get the house because it is a Fannie Mae.
Are they really still lending 100% especially in declining markets?
Thanks for your time.