According to Ellie Mae’s latest Origination Report, the average FICO® Score on all closed loans dropped to 722 which is its lowest mark since April. The average includes all approved refinance
New HomeReady Program For Buyers
Fannie Mae just came out with a new program called HomeReady. This program offers lower monthly payments and flexible down payments. A few highlights are:
1. Lower Mortgage Insurance equals lower monthly payments
2. Down Payment Flexiblity - Down payment funds can come from gifts and grants
3. As little as 3% down is required
For more info click here. If you have questions about loan options and the program let us know!
Melody Hall Visser is a passionate Realtor who lists, sells, and dwells in Northern Virginia. Currently, she serves as a REALTOR at eXp Realty, LLC. As a life-long resident of Virginia, Melody has....