[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fdser19boxah6":3,"$ffeh0925h8cuz":33,"$fbwk2pqjjqsc7":37},{"item":4,"previous":23,"next":28},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":21,"updatedAt":22},190,"breaking-news-fannie-and-freddie-formally-announce-3-down-programs","Breaking News: Fannie and Freddie formally announce 3% Down Programs","\r\n\r\nYesterday, HousingWire reported that both Fannie Mae and Freddie Mac formally announced their 3% down options on home purchases. Fannie Mae’s plan will be effective December 13, 2014 while the Freddie Mac plan will be available March 23, 2015. Th...","","blog","https:\u002F\u002F\u002F","\u003Cimg class=\"alignnone size-full wp-image-29793\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2014\u002F12\u002FSaving-with-Piggy-Bank.jpg\" alt=\"Breaking News: Fannie and Freddie formally announce 3% Down Programs | Simplifying The Market\" width=\"600\" height=\"315\" \u002F>\r\n\r\nYesterday, \u003Cem>HousingWire\u003C\u002Fem> \u003Ca href=\"http:\u002F\u002Fwww.housingwire.com\u002Farticles\u002F32269-fannie-and-freddie-officially-announce-3-down-payments\">reported\u003C\u002Fa> that both \u003Cem>Fannie Mae\u003C\u002Fem> and \u003Cem>Freddie Mac\u003C\u002Fem> formally announced their 3% down options on home purchases. \u003Cem>Fannie Mae\u003C\u002Fem>’s plan will be effective December 13, 2014 while the \u003Cem>Freddie Mac\u003C\u002Fem> plan will be available March 23, 2015. The HW article quotes \u003Cem>FHFA\u003C\u002Fem> Director Mel Watt:\r\n\u003Cblockquote>\u003Cem>“The new lending guidelines released today by Fannie Mae and Freddie Mac will enable creditworthy borrowers who can afford a mortgage, but lack the resources to pay a substantial down payment plus closing costs, to get a mortgage with 3% down. These underwriting guidelines provide a responsible approach to improving access to credit while ensuring safe and sound lending practices.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nThis is great news to millions of purchasers that have been denied the opportunity to own their own home because of the almost impossible burden of saving for a 20% down payment.\r\n\u003Ch3>\u003Cstrong>Will these programs create future challenges?\u003C\u002Fstrong>\u003C\u002Fh3>\r\nCertain pundits fear that low down payment programs will create a wave of foreclosures down the road. Mr. Watt also addressed this concern:\r\n\u003Cblockquote>\u003Cem>“To mitigate risk, Fannie Mae and Freddie Mac will use their automated underwriting systems, which include compensating factors to evaluate a borrower’s creditworthiness. In addition, the new offerings will also include homeownership counseling, which improves borrower performance. FHFA will monitor the ongoing performance of these loans.” \u003C\u002Fem>\u003C\u002Fblockquote>\r\nWe also recently \u003Ca href=\"\u002F2014\u002F11\u002F13\u002Ffear-of-low-down-payments-mostly-unwarranted\u002F\">addressed this issue\u003C\u002Fa>.\r\n\u003Ch4>\u003Cstrong>Here are the direct links to the guidelines for each program:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Ca href=\"https:\u002F\u002Fwww.fanniemae.com\u002Fcontent\u002Ffact_sheet\u002Fmcm-product-matrix.pdf\">Fannie Mae 3% Down Program\u003C\u002Fa>\r\n\r\n\u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Flearn\u002Fpdfs\u002Fmp\u002Fhp_glance.pdf\">Freddie Mac 3% Down Program\u003C\u002Fa>\r\n\r\nRemember, as with any new program, there will be some confusion as it is unveiled. Contact a mortgage professional for a deeper understanding. Don’t have a mortgage person yet? Contact me for a referral.","\u003Cimg class=\"alignnone size-full wp-image-29793\" src=\"http:\u002F\u002Fwww.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2014\u002F12\u002FSaving-with-Piggy-Bank.jpg\" alt=\"Breaking News: Fannie and Freddie formally announce 3% Down Programs | Simplifying The Market\" width=\"600\" height=\"315\" \u002F>\r\n\r\nYesterday, \u003Cem>HousingWire\u003C\u002Fem> \u003Ca href=\"http:\u002F\u002Fwww.housingwire.com\u002Farticles\u002F32269-fannie-and-freddie-officially-announce-3-down-payments\">reported\u003C\u002Fa> that both \u003Cem>Fannie Mae\u003C\u002Fem> and \u003Cem>Freddie Mac\u003C\u002Fem> formally announced their 3% down options on home purchases. \u003Cem>Fannie Mae\u003C\u002Fem>’s plan will be effective December 13, 2014 while the \u003Cem>Freddie Mac\u003C\u002Fem> plan will be available March 23, 2015. The HW article quotes \u003Cem>FHFA\u003C\u002Fem> Director Mel Watt:\r\n\u003Cblockquote>\u003Cem>“The new lending guidelines released today by Fannie Mae and Freddie Mac will enable creditworthy borrowers who can afford a mortgage, but lack the resources to pay a substantial down payment plus closing costs, to get a mortgage with 3% down. These underwriting guidelines provide a responsible approach to improving access to credit while ensuring safe and sound lending practices.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nThis is great news to millions of purchasers that have been denied the opportunity to own their own home because of the almost impossible burden of saving for a 20% down payment.\r\n\u003Ch3>\u003Cstrong>Will these programs create future challenges?\u003C\u002Fstrong>\u003C\u002Fh3>\r\nCertain pundits fear that low down payment programs will create a wave of foreclosures down the road. Mr. Watt also addressed this concern:\r\n\u003Cblockquote>\u003Cem>“To mitigate risk, Fannie Mae and Freddie Mac will use their automated underwriting systems, which include compensating factors to evaluate a borrower’s creditworthiness. In addition, the new offerings will also include homeownership counseling, which improves borrower performance. FHFA will monitor the ongoing performance of these loans.” \u003C\u002Fem>\u003C\u002Fblockquote>\r\nWe also recently \u003Ca href=\"\u002F2014\u002F11\u002F13\u002Ffear-of-low-down-payments-mostly-unwarranted\u002F\">addressed this issue\u003C\u002Fa>.\r\n\u003Ch4>\u003Cstrong>Here are the direct links to the guidelines for each program:\u003C\u002Fstrong>\u003C\u002Fh4>\r\n\u003Ca href=\"https:\u002F\u002Fwww.fanniemae.com\u002Fcontent\u002Ffact_sheet\u002Fmcm-product-matrix.pdf\">Fannie Mae 3% Down Program\u003C\u002Fa>\r\n\r\n\u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Flearn\u002Fpdfs\u002Fmp\u002Fhp_glance.pdf\">Freddie Mac 3% Down Program\u003C\u002Fa>\r\n\r\nRemember, as with any new program, there will be some confusion as it is unveiled. Contact a mortgage professional for a deeper understanding. Don’t have a mortgage person yet? Contact me for a referral.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2014\u002F12\u002FSaving-with-Piggy-Bank.jpg",false,[17],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers","2014-12-09T10:00:33Z","2014-12-09T09:00:48Z",{"id":24,"slug":25,"title":26,"featuredImage":11,"publishedAt":27,"contentType":10,"isVideo":15},189,"rent-increases-expected-to-continue-through-2015","Rent Increases Expected to Continue through 2015","2014-12-08T10:00:54Z",{"id":29,"slug":30,"title":31,"featuredImage":11,"publishedAt":32,"contentType":10,"isVideo":15},191,"will-higher-interest-rates-kill-home-sales","Will Higher Interest Rates Kill HOME SALES?","2014-12-10T10:00:57Z",{"cover":34,"open":35,"shareSpread":36},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[38,42,43,47,51,55,59,63,67,71,75,79,83,87,91,95,99,103,107,111,115,119,123,127,131,135,139,143,147,151],{"id":39,"name":40,"slug":41},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":44,"name":45,"slug":46},6,"For Sellers","sellers",{"id":48,"name":49,"slug":50},7,"Foreclosures","foreclosures",{"id":52,"name":53,"slug":54},8,"Infographics","infographics",{"id":56,"name":57,"slug":58},9,"Home Prices","home-prices",{"id":60,"name":61,"slug":62},11,"First-Time Buyers","first-time-buyers",{"id":64,"name":65,"slug":66},34,"Senior Market","senior-market",{"id":68,"name":69,"slug":70},35,"Mortgage Rates","mortgage-rates",{"id":72,"name":73,"slug":74},38,"Move-Up","move-up",{"id":76,"name":77,"slug":78},41,"For Sale by Owner","for-sale-by-owner",{"id":80,"name":81,"slug":82},42,"Featured","featured",{"id":84,"name":85,"slug":86},45,"New Construction","new-construction",{"id":88,"name":89,"slug":90},52,"Luxury \u002F Vacation","luxury--vacation",{"id":92,"name":93,"slug":94},53,"Rent vs. Buy","rent-vs-buy",{"id":96,"name":97,"slug":98},80,"Time-sensitive","time-sensitive",{"id":100,"name":101,"slug":102},81,"Outdated","outdated",{"id":104,"name":105,"slug":106},147,"Internal","internal",{"id":108,"name":109,"slug":110},148,"Do Not Autopost","do-not-autopost",{"id":112,"name":113,"slug":114},320,"Inventory","inventory",{"id":116,"name":117,"slug":118},321,"Agent Value","agent-value",{"id":120,"name":121,"slug":122},322,"Affordability","affordability",{"id":124,"name":125,"slug":126},323,"Buying Tips","buying-tips",{"id":128,"name":129,"slug":130},324,"Downsize","downsize",{"id":132,"name":133,"slug":134},325,"Economy","economy",{"id":136,"name":137,"slug":138},326,"Equity","equity",{"id":140,"name":141,"slug":142},327,"Forecasts","forecasts",{"id":144,"name":145,"slug":146},328,"Selling Tips","selling-tips",{"id":148,"name":149,"slug":150},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":152,"name":153,"slug":154},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]