3% Down Payment Mortgage

Next Week Start 3% Down Payments 
Freddie Mac will begin offering mortgages with down payments of only 3 percent — the first time they've been this low on the GSE's loans in nearly five years — starting March 23. The move is expected to make more credit available to entry-level borrowers. "By launching our 3 percent down payment mortgage now, at the start of the spring home buying season, lenders will be ready to serve qualified working families who are ready to buy. That means parents or relatives now can cover 100 percent of the down payment through gifts. Many local and state organizations offer down-payment assistance as well, and there are specialized programs for military vets, read more.