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April 8, 2014

A Bright Spot for Housing: Vacation Sales Jumped in 2013

By Brandon Ivey and George Brooks

In general, many mortgage firms that make loans on vacation homes want a downpayment of at least 20 percent.

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Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

vote to see results