Fannie Mae & Freddie Mac to Offer 3% Down-Payment Program for First-Time Homebuyers

Yesterday, Fannie Mae and Freddie Mac announced a new program that will enable first-time home buyers to qualify for the purchase of a new home with as little as 3% down.  However, since Fannie Mae and Freddie Mac do not originate loans on their own, the availability of this 3% program will be determined by how many lenders agree to sign up to originate these loans.  Proponents claim that the availability of programs like this will incentivize millennials and those Click for More →