Changes ahead that will affect buyers! If you’ve been looking at #lowdownpayment options for #homebuying then you’ll want to be paying attention because this affects how much you need to have saved up for certain #homeloan programs.
Some important news for buyers:
“Starting on November 16, 2013, Fannie Mae will increase their minimum down payment requirement from three to five percent.
Clients seeking a three percent down payment loan must receive pre-approval by no later than November 15, 2013. These loans will need to be closed by no later than March 31, 2014.”
