What's a Million?

it's the tipping point for the amount of down payment required by the lenders.

Once the price is $1 million or more, the downpayment increases to 20%.  Monthly payments aren't the problem but the downpayment is for many Buyers.

This helps to explain why we are seeing more activity in sub $1million price range-it's still doable for many Buyers who don't have the $200K or more for the down payment..


No comments

Post Your Comment:

Your email will not be published
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.