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Do you need 20% Down Payment

ou may have been told that you should put down 20% to buy a home. This may give you more choices and let you avoid private mortgage insurance, but this large amount may not be prudent, or necessary, in all circumstances. Some experts advise keeping your mortgage down payment small — a strategy that sets you up so you'll be better assured of liquidity when life happens. What's going to happen with the economy? No one can be sure, but it's pretty certain that the economy and home prices are closely linked. That's why buyers who make large down payments find themselves ov...

October 24th, 2019 Do you need 20% Down Payment

Blog image: Fannie Mae/Freddie Mac Allow Non-FICO Score

Fannie Mae/Freddie Mac Allow Non-FICO Score

Fannie Mae/Freddie Mac Allow Non-FICO Score   Surprising mortgage watchers, the Federal Housing Finance Agency will allow Fannie Mae and Freddie Mac to use VantageScore as an alternative to the FICO credit scoring model. How will this affect you when you are scouting out a new home purchase? By allowing new entrants into the credit scoring game, FHFA is opening up the market for credit scoring models to be considered in the government-entity mortgage market — and potentially helping mortgage seekers like you with an alternative to the FICO credit scoring model. The FICO...

October 10th, 2019 Fannie Mae/Freddie Mac Allow Non-FICO Score