One of the big questions in the real estate market today is "How much down payment should a buyer have to purchase a home?" Some lawmakers and regulators are saying it should be 20% or 10%, however The Center for Responsible Lending is arguing that the requirements are too high and that it could take between 9-16 years for creditworthy potential homebuyers to meet the down payment rule.

According to Kathleen Day, a spokesperson for the Center of Responsible Lending, Were not advocating for zero percent down, we think down payments are good. But we think the market should set them, based on the underwriting. This new down payment proposal comes in part from the new rules for mortgage lenders under the Dodd-Frank law. Federal Housing Agencys loans would be exempt from the new rules.

To respond to the National Association of Realtors (NAR) call from the REALTOR Action Center, visit the website and tell your Senators and Representatives that you do not wish for the cost of mortgages to rise, you want your clients to have affordable mortgages and you want the real estate market to recover.