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Lowered Fannie Mae and Freddie Mac Down Payment Requirements

We have some big news for the mortgage industry: Fannie Mae and Freddie Mac down payment requirements have been lowered!  The down payment requirements used to be a standard minimum of a 5% down payment, but it has now been lowered to a 3% down payment.  These new minimum down payment requirements are part of a new Freddie Mac program called “Home Possible Advantage.”

First time homebuyers will be able to use these funds for either a 15, 20, or 30 year fixed-rate mortgage or a limited cash-out refinance.  First time homebuyers will still need to meet the other requirements that are associated with Fannie Mae and Freddie Mac loans in order to be eligible for the Home Possible Advantage program and the reduced 3% minimum down payment requirement rates.

Today's Low Rates

30 Year Fixed 3.875% 3.93%
15 Year Fixed 3% 3.06%
5/1 Arm 3.5% 3.672%
All rates shown with 0 points

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