As prices rise, mortgage lenders make it easier to buy a house

Source: Andrew Khouri, L.A.Times (Paid Registration)

Government-controlled mortgage giants Fannie Mae and Freddie Mac are paving the way by rolling out new programs to encourage home ownership.

This year, Fannie Mae started pilot programs with some non-bank lenders to offer loans with less than 3% down. Pilot programs with Guild Mortgage of San Diego and United Wholesale Mortgage of Michigan require the borrower to put down 1% of their own money. A pilot through Movement Mortgage allows a borrower to put down nothing.

Read Full Article: As prices rise, mortgage lenders make it easier to buy a house

 
 

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