There has been some great news recently from both Fannie Mae
and Freddie Mac. With new programs available, first time home buyers will have
the opportunity to qualify for loans with down payments starting at 3%. Freddie
Mac’s Home Possible Advantage has a maximum loan-to-value ratio of 97 percent.
Participation in a program for borrower education will also be required in
order to be eligible. Fannie Mae’s program will have normal guidelines and will
require private mortgage insurance. This should open doors for many who cannot
afford a large lump sum down payment, and will make it easier for people to
move from renting into buying their own home. Without a 20% down payment
holding you back, there are endless opportunities. Give me a call and we can
discuss it further!
Author:Alex Argiroff Phone: 252-202-8148 Dated: December 16th 2014 Views: 713 About Alex: With a degree in Marine Biology Alex has always been drawn to the ocean and so it was no surprise wh...
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