Everything you ever thought about the concept of mortgages is about to be flipped and twisted.
“For years now, if you didn’t have near perfect credit and a hefty 20% down payment, chances were slim that lenders would give you a mortgage.
But that’s all about to change.
That’s because Fannie Mae and Freddie Mac, the two government-backed mortgage giants that backstop a majority of all mortgages, have put new lending guidelines in place that should make it easier for borrowers to secure loans.”
Securing loans has never been more simple, and this is definitely one of the greatest Christmas gifts for home-buyers everywhere. Les Christie from CNN Money, has the scoop on these developments: