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Lower Mortgage Rates, But More Lenders Require 15% Down Payment

Posted on September 11, 2008

Update: Here are the new guidelines from Fannie Mae (hat tip MaxedOutMama)NOTE THAT THE 85% LTV applies to cash out refis. Purchase Money Mortgage (new purchase) is still 95% LTV (or 5% down payment). From Peter Viles at L.A. Land: 10% down? Forget it, it's now 15% Good news from the government takeover of Fannie and Freddie: Mortgage rates are falling. Bad news for borrowers short on cash:...

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