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3% Down Payment

Dec 10
2:25
PM
Category | Update

In an effort to increase more low-income and first time home buyers, Fannie Mae and Freddie Mac announced on Monday December 8th that they will start backing mortgages with 3% down payments.  Borrowers still need to meet strict lending guidlines like having a credit score of at least 620, provide complete documentation of their income, assests and job status.   The two goverment backed mortgage agencies will require borrowers to recieve home ownership counseling as well.

Contact us for more information about the new options available!

 


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