14 Nov Freddie relieves step 3% down limits for first-time homeowners
However, one of many borrowers to the loan have to be a beneficial first-go out homebuyer additionally the assets type is limited so you can a single-device first quarters
In its most recent work to-arrive basic-big date homeowners, Freddie Mac is actually establishing a different sort of step three% downpayment system you to definitely casts away an abundance of limitations when you look at the their current low-down commission choices.
The most recent low-down commission program, Domestic You are able to, is capped at a beneficial 95% loan-to-value proportion, except for our home You'll be able to Advantage mortgage that goes toward a good 97% LTV. Yet not those people finance was at the mercy of income limits.