Fannie Mae unveils new mortgage for first-time buyers

first time

first timeBy Mark Huffman | Consumer Affairs

Even though the U.S. housing market has recovered from the depths of what can only be considered a housing crash, it has been investors who have driven the market.

First-time homebuyers have mostly stayed on the sidelines, either out of choice or necessity. In many cases first-time buyers haven’t been able to come up with the down payment that lenders have demanded.

Viewed in that light Fannie Mae’s recent announcement of a new loan program, specifically targeted to first-time buyers, might make a significant impact.

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