It’s more affordable to buy a home now in most U.S. metros than it was 15 years ago, even for millennials putting down less money on a home, according to a Zillow analysis of third-quarter income and home value data.
Check out the housingwire.com article for more details.
Fannie Mae and Freddie Mac announced recently that they will start backing mortgages with down payments of as little as 3% of the home’s price. But borrowers will still need to meet strict criteria first, the two government-backed mortgage giants said.
See the CNNMoney article for details.