Well here is something to look forward to First-Time Home Buyers! Fannie Mae is now backing mortgages with down payments as low as 3%.
The credit score required for a LTV of 75% or more is 680 for a Fixed Rate Mortgage. See the other General Requirements here.
This option is available for Single-Family properties only.
Great news for all of the new prospective condo buyers this year!
It’s a start!