And You Were Thinking of Registering for China…
Posted by Metropolitan Group on Monday, November 29th, 2010 at 3:45pm.Beginning Dec. 13, Fannie Mae will allow home buyers to use gifts and grants as their down payment on a single-family home. Up to 5% of the purchase price, given by family or other sources, can be used for the required down payment. Traditionally, buyers were required to produce down payments from their own funds. Now buyers can turn to their parents, grandparents, siblings, friends…the list goes on! To read more on Fannie Mae’s new lending guidelines, visit the link below. Have a great day!
http://www.realtor.org/rmodaily.nsf/pages/News2010112604
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