What's Hot: A 50-Unit Development is Pitched For Recognizable Buildings Along H Street | The Fastest Moving Prices in DC
FHFA to Loosen Rules on Mortgages, Offer Lower Down Payment Options

In an effort to give more first-time buyers and low-to-middle income earners a better chance to buy a house at low rates, the Federal Housing Finance Agency announced on Monday a plan to loosen rules on mortgages.
“We know that access to credit remains tight for many borrowers, and we are also working to address this issue in a responsible and thoughtful manner,” Melvin Watt, the director of the FHFA, said in a speech at the Mortgage Bankers Association Annual Convention.
As part of the changes, the FHFA said it would create specific guidelines for mortgages with loan-to-value ratios between 95-and-97 percent to “increase access for creditworthy but lower-wealth borrowers.” While Watt’s speech did not offer much in the way of specifics, it has been reported that the new plan, to be outlined in the coming weeks, could allow for down payments as low as 3 percent for certain borrowers.
“Through these revised guidelines, we believe that the Enterprises will be able to responsibly serve a targeted segment of creditworthy borrowers with lower-down payment mortgages by taking into account ‘compensating factors,’” Watt said.
This article originally published at http://dc.urbanturf.com/articles/blog/fhfa_to_loosen_rules_on_mortgages/9119
Most Popular... This Week • Last 30 Days • Ever

DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »

Just a month after setting a new high in March, the value of a house in DC skyrockete... read »

A look around DC to see where home sellers are dropping their prices.... read »

The National Capital Planning Commission will consider approval of the final master p... read »

The new five-level residential project is planned for the buildings at 1365-1375 H St... read »
- First-Timer Primer: DC's Home Buyer Assistance Programs
- $1.4 Million: The Price for a House in DC Hit a New High in April
- Where Are Home Sellers Dropping Their Prices in DC?
- The Massive Development at DC's Armed Forces Home Looks to Get Key Approval in June
- A 50-Unit Development is Pitched For Recognizable Buildings Along H Street
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro