Federal Regulators have dropped 20% down requirement. This is great news for first-time home buyers and buyers looking to move up to a second home.
Being a Real Estate Broker in Ruidoso, New Mexico, I found this article and thought I would share it. Great news for the Real Estate Industry.
Regulators drop 20%-down requirement from mortgage proposal
Lenders and affordable housing advocates won a victory when federal regulators walked away from a proposed rule that would encourage mortgage lenders to require a 20 percent down payment from home buyers. [Read the original story from here]