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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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Empire State home sales stay at elevated level during April

Against the backdrop of fewer homes on the market, homebuyers in New York State closed 8,640 sales during April, falling only 2.6 percent from April 2017. The median sales price growth trend continued, increasing by nearly 12 percent compared to last April to reach $260,000 for the month. Click here to read more.

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