Posted on 17/05/08
Fannie Mae relaxes down-payment policy
Fannie Mae, the largest U.S. home funding source, is setting a single national standard for down payments on mortgages it buys, including areas where home prices are falling, in an effort to stimulate the housing market. On loans it purchases, the company will accept down payments as low as 3.0 per cent for single-family, primary residences in all U.S. markets starting June 1.
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