Changes to down payment requirements for its first-time homebuyer program have been made by the Federal Home Loan Mortgage Corp.
The changes impact Freddie Mac’s Home Possible Advantage Mortgages. The program is an affordable option for first-time homebuyers and other qualified borrowers.
McLean, Virginia-based Freddie is making the changes in order to ensure continued access to sustainable solutions for borrowers with limited down payment savings.
Source: Mortgage Daily