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Mortgage giant expands 3-percent down loans

Oct 28, 2016
Fannie Mae recently announced that it would expand its HomeReady program, which includes 3 percent downpayment loans. It is extending the 3-percent down mortgage to eligible refinancers who have loans already owned by Fannie Mae.
 
Fannie Mae’s previous maximum allowable loan-to-value ratio for refinancers was 95 percent. Now, it will be up to 97 percent, under the new guidelines. 
 
Click here to learn more. 
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Home sales near record high in November

There were 10,719 closed home sales across New York State during November, representing the second-highest total on record for the month. The November sales record of 10,991 was set in November 2016. The statewide median sales price grew by 5.8 percent in November compared to last November. Click here to read more.

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