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Freddie Mac 3% Down - The Basics

Updated: Nov 21, 2019

Like the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) introduced 3% down programs to compete with FHA loans. The Home Possible and Home Possible Advantage programs make home ownership more affordable for first-time and modest-income borrowers by reducing the down-payment required to 3%.


For borrowers whose income does not exceed to NEW 2019 LIMIT of 80% median area income (MAI), the Home Possible loan programs offer a great opportunity to begin the home-ownership journey.



Are you an aspiring new homeowner that meets the Freddie Mac 3% down requirements? Let's talk about which option fits into your financial goals.



Douglas Kennell

NMLS #364758

Sovereign Mortgage Investments, Inc.

NMLS #222681



Sources:

www.freddiemac.com/singlefamily/factsheets/sell/pdf/home_possible_97_572.pdf

sf.freddiemac.com/working-with-us/origination-underwriting/mortgage-products/home-possible

Disclaimer:

Rates, regulations, and loan conditions can and do change. The information presented in this article was accurate, to the writer’s knowledge, as of 8/30/2019. Consult your Sovereign Mortgage Investments Inc, adviser to see if rates, regulations, and loan conditions have changed.

Douglas Kennell

NMLS #364758

Sovereign Mortgage Investments, Inc.

NMLS #222681

doug@financebydoug.com

(239) 542-6224

Cape Coral, FL 33904

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