GSE low down payment mortgage program adjusts area median income

Jul 7, 2017, 10:36 AM by User Not Found
Area median incomes (AMIs) for Fannie Mae and Freddie Mac’s low-down-payment mortgage programs have changed recently – and that’s a good thing, according to United Wholesale Mortgage President and CEO Mat Ishbia.
Area median incomes (AMIs) for Fannie Mae and Freddie Mac’s low-down-payment mortgage programs have changed recently – and that’s a good thing, according to United Wholesale Mortgage President and CEO Mat Ishbia.
 
“More borrowers will now fit into the Home Possible program and the HomeReady program with Freddie and Fannie,” he said. “It’s very positive – over 80% of all census tracts throughout America actually went up on Freddie Mac’s data.”
 
 
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