Freddie Adds Products for Low-income Home Buyers

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00009215-freddie-adds-products-for-low-income-home/

Freddie Mac plans to add a new suite of mortgage products aimed at boosting the buying power of low- and moderate-income people by eliminating all but $500 from the required down payment on the home loan, the company said on Monday.

Freddie Mac, a government-sponsored housing enterprise that buys mortgages from lenders to keep the market liquid and ensure loans are available to home buyers, said it will announce its “Home Possible” mortgage suite on Thursday to mortgage sellers and loan servicers.

Freddie will also include a product in the new suite targeting law enforcement officers, firefighters, health care workers and teachers to help them afford to live in communities where they work.

For this complete story, please visit Freddie Adds Products for Low-income Home Buyers.

Freddie Adds Products for Low-income Home Buyers

Unknown Author

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