Month: December 2014

Fannie Mae and Freddie Mac Will Back 3% Down Payment Mortgages

Lower income and first-time home buyers have become a dwindling portion of the homebuying market. In an effort to reverse — or at least slow — this trend, government-backed Fannie Mae and Freddie Mac said Monday that they will bring back the 3% down payment mortgage. Borrowers will, of course, still be required to meet a strict set of criteria.

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A Basic Guide to Keeping Your Credit Up When Applying for a Mortgage

  When it comes to determining whether you will qualify for a home loan and under what terms, your income, debt, and credit scores are complementary and critical factors. If you’ve already begun or are getting ready to start the home loan process, there are a handful of fundamental dos and don’ts to live by. Once you have a grasp

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