Fannie Mae and Freddie Mac Agree on Relaxed Lending Rules forHome Mortgage Loanadmin / 0 Comments /
New lending rules drafted by mortgage powerhouses Fannie Mae and Freddie Mac should make it easier for home buyers with less-than-perfect credit to obtain financing. The new lending guidelines, which are expected to be announced soon according to an article in the Los Angeles Times, should encourage lenders to approve home loans for the average consumer whose credit score took a slight hit in the wake of The Great Recession. Among the benefits consumers can expect from the relaxed guidelines is a reduction in the minimum down payment from 5% to 3%.
To learn about other anticipated changes, read the entire
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