Mortgage Rates Lowest in 3 Years; Fannie, Freddie Lower Loan Requirements for Downpayment Program
Whittier Daily News (Calif.), June 27, 2019–Jeff Lazerson
Starting July 20 for Fannie and July 28 for Freddie, the income cap for these low-down payment loans that offer discounted pricing and discounted mortgage insurance gets cut to 80% of area median income or AMI. Currently, the cap is 100% of AMI. And, there is currently no income cap for properties located in low-income census tracts. (MBA mention)
