The SCOOP! Blog by® 'Your Best Rate Guru'

Celebrating National Homeownership Month

June 2nd, 2016 7:12 AM by Jackie A. Graves, President

Today kicks off the 14th annual National Homeownership month, a celebration focusing the nation's attention on homeownership's benefits to families and communities and demystifying the homebuying process.

In today's market this is more important than ever before. The biggest misconception? Down payment requirements. Most potential home buyers believe that you can't get a loan without 20% down. Not so. Today borrowers can get a conforming, conventional mortgage with a down payment of as little as 3%. According to the National Association of Realtors, the average down payment was actually just 10% and for first-time homebuyers, it was even lower at 6%. In fact, last year nearly a third of the 1.6 million loans that Freddie Mac funded were to buyers putting down less than 20%.


You can find out more about down payments and demystify other aspects of the homebuying process at My Home by Freddie Mac. Here you can also meet homeowners across the nation who answered the important question, "What home means to me?"


At Freddie Mac, we're proud of our mission to help America's families buy, rent and keep their homes.  We've made home possible for more than 72 million since we've been in business and our work to become a better company is moving housing forward every day.


Courtesy of Freddie Mac - To view the original article click here

Posted by Jackie A. Graves, President on June 2nd, 2016 7:12 AM


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