100% Home Loans

[Neeranam]

I'm looking to get a 100% home loan but not sure where to start looking. Does anyone here know of any bank that offers this.

My wife(Thai) doesn't work but I do.

[BB1955]

About the best you can hope for is 50% from everything I was able to find ...

[trogers]

I am surprised some people are still looking for 100% home loans, meaning they do not have the financial discipline to save up for a downpayment.

Spain anti-bank protest decries second evictee suicide

Hundreds of people demonstrated in Madrid on Friday after a woman due to be evicted killed herself in northern Spain' date=' the second such suicide in two weeks, which the protesters blame on predatory mortgage lenders.[/size']

http://www.expatica.com/es/news/local_news/spain-anti-bank-protest-decries-second-evictee-suicide_249896.html

[Zatoichi]

It's not necessarily about financial discipline. It may be about financial literacy. If you have say $50,000 and you need a house say, at a $100,000. Would it make more sense (assuming both were options available to you) too ;

a. Put all $50K down and get the shortest term loan you can afford to pay it off as quickly as possible?

b. Put as little down as you can and put the rest of the money in a investment that earns more money than you are paying in interest to the bank for your mortgage?

[trogers]

It's not necessarily about financial discipline. It may be about financial literacy. If you have say $50,000 and you need a house say, at a $100,000. Would it make more sense (assuming both were options available to you) too ;

a. Put all $50K down and get the shortest term loan you can afford to pay it off as quickly as possible?

b. Put as little down as you can and put the rest of the money in a investment that earns more money than you are paying in interest to the bank for your mortgage?

Speculating with borrowed funds? Why do I use the word "speculating"? It is from the words highlighted above - "investment that earns more money than you are paying...". This means borrowing money to take on riskier ventures in the hope you make money and not lose them.

The greatest investment folly so far was by an investment group called Long-Term Capital who lost USD 4.6 billion of borrowed funds.

Prudence requires us to consider two issues when looking at a mortgage: the price of the house which we can afford, and the length of time for the repayment.

Edited November 11, 2012 by trogers

[steveromagnino]

If you want the loan in your name then you can try UOB; will only be possible maybe for a new build project and you will have to pay additional fees to borrow 100% (maybe).

Generally, 70-80% is a practical maximum of what banks will allow but I have been personally offered 100% (mostly because i don't need it) although unsure I would want to think I could consistently return 8% after tax consistently to justify piling all my available cash into housing.

I prefer margin trading on my stocks, as that avoids some of the additional fees etc of having massive borrowing in real estate and being locked into paying interest even when you sell stocks. But that's just me.