Borrow like it's 1975

Things are definitely changing in the mortgage industry and in the credit industry as a whole. Lenders are requiring bigger down payments, better credit scores, and a more stable work history. 100% financing and stated-income loans have, for the most part, "gone the way of the buffalo", as my college basketball coach use to say. With all of the changes that are happening, it's crucial that homebuyers be aware of them and prepare themselves accordingly. Liz Weston, a personal finance columnist for msn.com explores the changes that are happening in the credit industry today and how analyzing the credit industry of 1975 could help us adapt to today. See... Borrow Like it's 1975

Note: USDA Rural Housing, VA, and the Utah Housing loan are all government sponsored programs that allow for 100% home financing.