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.
Sovereign Mortgage Investments, Inc.
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.