Home Buying in 2014 and 2015 - 3% Down Payments Available Soon?

Home Buying in 2014 and 2015 - 3% Down Payments Available Soon?

Just last week, Federal Housing Finance Agency Director Mel Watt announced that mortgages requiring only a three percent down payment may soon be available:

“To increase access for creditworthy but lower-wealth borrowers, FHFA is also working with the Enterprises to develop sensible and responsible guidelines for mortgages with loan-to-value ratios between 95 and 97 percent.

Through these revised guidelines, we believe that the Enterprises will be able to responsibly serve a targeted segment of creditworthy borrowers with lower-down payment mortgages by taking into account “compensating factors.”

If you are saving for either your first home or that perfect move-up dream house, make sure you know all your options. You may be pleasantly surprised.

Click here to search Grayslake and Lake Villa Homes for Sale.

Jim Starwalt

Thinking of making a move?

Download the New Free RE/MAX Home Search App or text the word MOBILE to 224-677-2200.

Log onto my website at www.StarHomeTeam.com and search Northern Illinois Homes for sale.

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Jim Starwalt, Real Estate Broker
RE/MAX Center
Phone: 847-548-2625
Jim@StarHomeTeam.com

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Home Buying in 2014 and 2015 - 3% Down Payments Available Soon?

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