Mortgage lenders might loosen down payment requirements for a so-called ‘Henry’

Mortgage lenders

Mortgage lendersBy Anya Martin | The Wall Street Journal

Banks and other mortgage lenders are loosening 20% down payment requirements on jumbo loans—especially for Henrys.

The acronym stands for “high earner, not rich yet,” says Peter Grabel, managing director of Stamford, Conn.-based Luxury Mortgage. A Henry tends to be a younger professional with savings tied up in employer-provided retirement accounts and who may want some cash left for home renovations, he says.

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