Some news outlets are reading about a potential housing collapse in the tea leaves due to a number of financial institutions offering zero-down mortgages, according to a recent report by the Gateway Pundit:
“One of the top mortgage lenders in the United States is offering a new program that allows home buyers to put zero percent down on their mortgages.
“United Whole Sale Mortgage is offering a new program that will allow first-time home buyers and people earning below or at 80% of an area’s average income to put zero down on their mortgages.
“In a statement to Market Watch, chief operating officer of UWM, Melinda Wilner shared, ‘Homeownership is something we’re very passionate about.’
“Previously, UWM offered buyers a rate of as little as 1% down.”
To read the entire article by the Gateway Pundit, please click HERE.