It’s official – Freddie Mac’s minimum down payment requirement is now 3%!
3% down payments back again + affordable property values + historically low rates = the perfect market conditions to attract first-time home buyers!
And with Radian as our MI partner, 97% LTV lending can be 100% awesome!
- Just 3% down payment required instead of the FHA’s 3.5%
- MI premiums are still eligible for cancellation (unlike FHA!)
- No upfront premiums that increase the loan amount
- Ability to use gift funds
- Savings in premiums paid over the life of the loan
- Faster equity build up
- Faster underwriting process to help close the deal
- Available on a purchase or a rate and term refinance
Image may be NSFW.
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