The move by Fannie Mae and Freddie Mac this week to offer 3 percent
down payment loans may reignite the first-time home buyer market.
Prior to this week's announcement, Fannie Mae and Freddie Mac issued
loans with a minimum of a 5 percent down payment—however, the standard
down payment for mortgages insured through Freddie Mac and Fannie Mae
was 20 percent, the Associated Press reports.
Stage Set to Revive First-Time Buyer Market