3% down mortgages from Fannie Mae are back!

Fannie Mae has announced its new 3% down mortgage program for qualified first-time home buyers who “may not have the resources for a larger down payment.”

The program, which is available if at least one co-borrower is a first-time buyer, is subject to Fannie’s usual eligibility requirements, including “underwriting, income documentation and risk management standards” and require private mortgage insurance.

Here is the Press Release from Fannie Mae.

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
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