New mortgage pilot rewrites credit rules for first-time homebuyers

A new mortgage loan program may be able to help more Americans buy a home. Photo by Nathan Bilow on Getty Images

By Aly J. Yale TheStreet

The results are in from a new mortgage pilot, and hopeful homebuyers – especially those with not-so-great credit scores or little in savings, have something to celebrate.

It seems a loan with no down payment, low credit score requirements, and no mortgage insurance is a real possibility. And it could be a game-changer for first-time homebuyers and minorities who have previously hit financial barriers to buying a home.

Read more at: www.miamiherald.com

Author

Leave a Comment

Your email address will not be published. Required fields are marked *