Minimum Down Payment Change - Take ACTION Now!

Currently there is a rule being discussed by congress that will affect the amount a buyer is required to put down on a home purchase.  This down payment rule being discussed would require a lower loan to value of the buyer's home purchase to 80%, thus requiring one to put 20% down.  Today, a typical buyer using conventional financing would only need to bring 5% of the purchase price to closing. 
If this new rule gets put into law, this will not only affect a first time buyer but up all buyers financing home purchases.  Another example of a group of buyers soon to be effected would be that of the move up buyer.  This change could be crucial in today's market where home values have declined so much that the sellers that still have equity in their homes have become a small portion of the population.  These sellers who would normally turn into move up buyers after so long would need to wait much longer to move up than is typical due to the need to save more for the down payment. 
Since this change could affect our housing market considerably in a time where we are still trying get the numbers from slumping, I ask that you take a minute to contact your legislatures about your thoughts on the proposed change. 
Click here to start the process of fighting for home ownership and ensuring this 20% down rule does not get passed into law.  Thank you for your time today on this as we'll all see the benefits of keeping the down payments of home purchases to a minimum by ensuring the continued growth of the housing market.