Home Loans Tag

Fannie and Freddie Launch 3% Down Program

Mortgage giants Fannie Mae and Freddie Mac have launched a program called Home Possible Advantage, a conventional mortgage with 3 percent down-payment requirement designed for low-and moderate-income borrowers. The program is expected to expand credit for qualified home buyers who may have been priced out of the market due to higher down-payment requirements. Home Possible Advantage is a conforming conventional mortgage...