CNN, May 30, 2024, Zero-Down Mortgages Are Making A Comeback
Many Americans would love to buy a home, but they don’t have tens of thousands of dollars to cover a down payment.
That massive roadblock is being removed by a new zero-percent down mortgage program launched two weeks ago by one of the nation’s largest mortgage lenders.
However, the new program, offered by United Wholesale Mortgage, is making some experts nervous about how these loans could backfire on homeowners — especially if home prices stop going to the moon. And for some, it’s bringing back bad memories of the subprime mortgage meltdown that fueled the 2008 financial crisis.
