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.” (more…)

Mortgage loan limits increase in MA Counties

In 5 MA Counties – Essex, Middlesex, Norfolk, Plymouth and Suffolk – conforming loan limits for mortgages sold to Fannie Mae and Freddie Mac in 2015 will increase from $470,350 to $517,500 “because those counties experienced increases in local home values”, according to the Federal Housing Finance Agency (FHFA).

This increase is good news for borrowers as it means the starting point for jumbo loans will increase in those Counties. (more…)