In an effort to open up lending to more low-income and first time home buyers, Fannie Mae and Freddie Mac announced Monday that they will start backing mortgages with down payments of as little as 3% of the home's price.
But borrowers will still need to meet strict criteria first, the two government-backed mortgage giants said.
Fannie and Freddie to offer 3% down payment mortgages - Dec. 8, 2014
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.