Items Tagged with '3% down'


  • Genworth: 3% down mortgages key to lock in first-time homebuyers in 2018

    Where will credit expand in 2018?
    With overall mortgage originations projected to decrease in 2018, mortgage lenders are looking to first-time homebuyers to make up a large portion of their business. According to a new survey from Genworth Mortgage Insurance, the majority of lenders anticipate strong first-time homebuyer growth in 2018. So what type of mortgage products will they choose?
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  • FHFA Director Watt gives small glimpse into status of 3% down programs

    Here's who has used the program
    Since Fannie Mae and Freddie Mac unveiled their low down mortgage programs back in 2014, there hasn’t been a lot of detail given around the status or success of the programs. While the information is still sparse, Federal Housing Finance Agency Director Mel Watt gave a brief update on the low down programs in his testimony for his hearing before of the House Financial Services Committee.
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  • [Video] BofA CEO: Introduction of standard 10% down payment mortgage would increase homeownership

    And won’t introduce a ton of risk
    As of late, lenders are focusing a lot more on changing the mindset behind the supposed 20% down payment requirement in order to help more potential homeowners. And the CEO of one of the largest banks is included in this new wave of thinking. And no, the change won't add a bunch of risk into the market.
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  • MGIC: Should borrowers wait to save 20% down or buy now?

    Here’s the math to find out
    Down payments are commonly cited as one of the most misunderstood parts of the home-buying process, as potential homebuyers hold off shopping until they can put 20% down on a home. A new calculator from MGIC helps solve this problem. Home shoppers can use the calculator to see if they should buy now or wait.
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  • Here's a status update on Freddie's 3% down mortgage program

    Where are 97% LTV products headed?
    Freddie Mac is adamant about not sharing details on the success of its Home Possible Advantage Program, with no apparent plans to start revealing it. So, what is public knowledge about the program? Here's what Donald Layton, Freddie Mac CEO, said during the conference call.
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  • From HW Magazine

    Redefining skin in the game

    How low-down mortgages can safely expand opportunities for homeownership
    For many observers, “skin in the game” is synonymous with a large down payment that limits lender or investor risk. However, skin in the game can be defined much more broadly, since financial investment is only one factor that mitigates risk.
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  • Borrowers love Wells Fargo’s 3% down program

    Program makes up about 3% of new apps
    First-time homebuyers are taking a liking to Wells Fargo’s 3% down program as applications came in at $1 billion during the program’s first month. Wells Fargo spoke about the success of the program on the company’s earnings conference call.
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  • Are 3% down mortgages the new normal?

    Young borrowers embrace opportunity to put less down
    In a recent interview with HousingWire, Mat Ishbia, CEO of United Wholesale Mortgage, explained why low down payment mortgages are growing in popularity, especially among Millennial buyers. Are 3% down mortgages going to be the new normal?
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