![]() ![]() Fannie’s standard 97 LTV loan doesn’t have such restrictions, if at least one borrower is a first-time home buyer. There are income limits wrapped into the HomeReady program, except in designated low-income neighborhoods. So Fannie Mae decided to build a competitive low-down-payment loan product of its own. ![]() ![]() Jonathan Lawless, vice president for product development and affordable housing at Fannie Mae, says today’s low-down-payment FHA loans can be “expensive,' with upfront and ongoing that last for the life of the loan. What Is Required Down Payments For Home Loans. ![]()
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