Posted by Staff Writer on 8/14/2018 to Real Estate
New Loan Programs in District of Columbia
Fannie Mae’s HomeReady and Freddie Mac’s Home Possible
IncSmart Washington DC (Small Business and Startups) - New loan programs targets buyers with just 3% down or less. These new loans are for customers with small savings accounts. The 3% down payment is called a 97 loan to value. This is also available on conventional loans. There maybe income limits to the HomeReady program. These limits can go away if one of the borrowers is a first time buyer. Payments from rental property may also be considered income.