banks: Freddie Mac 3% down payment mortgage, qualifying, PMI updates
- 02/23/15 12:28 AM
Earlier this year the president reduced private mortgage insurance rates. FHA loans were more attainable for first time home buyers. Home owners that wanted to refinance and reduce their monthly payments could also participate in the reduction. Now Freddie Mac is about to roll out a new appealing option for home buyers: 3% down payment mortgages coming in March! Contributing to continued Real Estate recovery and stability, the guidelines of qualifying for this type of loan will not be as loose as the guidelines from the adjustable rate mortgage disaster in 2007-2008.
Donald Layton, CEO of Freddie Mac, assured (1 comments)