Fannie/Freddie to decrease down payment requirement to 3%

In the past, the minimum down payment you could make was 3.5%, now Fannie/Freddie Mac are accepting loans with as low down payment as 3% to those who qualify.


http://www.latimes.com/business/la-fi-fannie-mae-freddie-mac-mortgage-downpayment-20141208-story.html

Comments

Post a Comment

Popular posts from this blog

Supreme Court Rules on Dual Representation

I mentioned earlier in September  about how 2 Coldwell Banker agents represented a buyer and seller in a transaction and there was a discrepancy in the square footage.  The buyer sued Coldwell Banker and the agents.  The heart of the question was, does the listing agent owe a fiduciary duty to the buyer and since Coldwell Banker is the brokerage to both the buyer and seller? The answer is YES.  There are a lot of ramifications to this decision and we will have to see how things pan out. Case Summary and decision-- http://www.courts.ca.gov/opinions/documents/S218734.PDF
Read more

East Bay Attached and Detached April Housing Report

BayEast recently changed their website and no longer lets me post their data on my blog. You can find the stats and data here-- https://bayeast.org/community-info/community-info/ Click on the city you're interested in and then "Housing Market Information" and then either a detached, attached, or historical analysis.
Read more

Historical Average and Median Prices for Detached Homes in Fremont

Image
A request from a client to run a historical chart of the average and median prices for detached homes in Fremont last year has opened a lot of conversations.  This is the first time since BayEast MLS started recording sales data in 1997 that Fremont's average detached home (aka: single family homes) sale has officially reached the $1M mark.  As always, I don't have a crystal ball, I'm not a lawyer or accountant, so I can't interpret this chart for you.  This chart has NOT been adjusted for inflation, this is just the raw sales average and median prices.
Read more