Know the Types of First-Time Buyer Loans Available. Fannie and Freddie 3% Down Loans – Fannie Mae and Freddie Mac are the two largest buyers of mortgage loans. In order to compete with FHA loans they launched a 3% down payment program called a conventional 97 mortgage.
Trump, who has vowed to fight for working-class Americans, signed an order during his first hour in office blocking an Obama initiative that would have cut the cost of mortgages for millions of home.
April 13, 2009 – In addition to the Obama mortgage and other homeowner relief programs, 2009 also brings with it a tax break for first time home buyers. If you are contemplating an FHA loan on your first home, there’s never been a better time to buy thanks to the $8,000 tax credit offered to those who qualify.
The Obama administration enacted the federal first-time home buyer tax credit in 2008. Created as a response to the 2008 financial crisis, the Housing and Economic Recovery Act (HERA) allowed new home buyers to get a tax credit of up t0 $7,500 during the first year of the initiative.
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