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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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