Other than the Seeming End of the Homebuyer Credit, not much has changed. If anything, rates have temporarily improved slightly so that we are back at :

5.125%- 30 fixed conforming

5.25%- 30 fixed High Balance Conforming

5.625%- 30 fixed to $1MM

It seems to me as if we are starting to pick up a bit, particularly in the sub $1MM price range. Thank you for passing on all of the leads recently. We all expected a surge pre-homebuyer credit expiration, but I am not seeing this in Ridgefield/Wilton at all. I was particularly slow in March and April, but am optimistic based on a flurry of recent activity that May and June will make up for it.

It seems to me that the biggest question I get is how much down payment is required with different loan amounts. Naturally, this changes all the time and will differ depending on loan program, etc., but I’ve summarized what we can do at the different Loan Amounts on this chart for your reference.

We should really be maximizing the use of our 3% down conventional loan program right now, while most of our competition still cannot make this available without resorting to FHA and the 2.25 Upfront Points required. Please be advised that we still require 5% down on condos, and that full documentation is required.