Many people believe that to even think of becoming a homeowner you must secure a 20% down payment. This is difficult to do for a lot of aspiring-to-be-homeowners. But there is another way:
- 3.5% down. Low down payment - less money out of pocket and 96.5% loan-to-value.
- Purchase and "refis" are allowed,
- 1-yr. adjustable: 2.88% Fees/points: 0.6%
(Source: Freddie Mac)