Freddie Mac expanding 3% down payment program

Real Estate

Freddie Mac expanding 3% down payment program

*Picture from Housingwire.com*

One of the biggest obstacles for homebuyers is coming up with the down payment. Freddie Mac is expanding their 3% down payment program to remove geographic or income restrictions.

That will allow them to compete against FHA loans. At least one borrower in the transaction must be a first time homebuyer. And at least one of the borrowers must attend a homeownership education class.

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