Fannie Mae and Freddie Mac announced a new low 3% down
mortgage program for 2015. This will
make it a lot easier for some people to get into a home this next year. The new program is geared to help new first
time buyers, repeat buyers, and homeowners wanting to refinance their homes,
with fewer restrictions. Because
mortgage programs need to be tailored to the individual needs of the buyer it
is important to work with your lender in finding the best program available for
you. What this does do is open the door
for many people to be able to buy a home who before just didn't have that
needed down payment. This new program
coupled with the low interest rates should incent more people to become
homeowners in 2015.
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