Freddie Adds Products for Low-Income Buyers
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Freddie Mac plans to add a new suite of mortgage products aimed at boosting the buying power of low- and moderate-income people by eliminating all but $500 from the required down payment on the home loan, the company said.
McLean, Va.-based Freddie Mac said it would announce its “Home Possible” mortgage suite Thursday to mortgage sellers and loan servicers.
Freddie Mac also will include a product targeting law enforcement officers, firefighters, teachers and healthcare workers to help them afford to live in the communities where they work.
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