Both programs from the government-sponsored enterprises are intended to help more first-homebuyers and other qualified borrowers jump into the market.
And so far, according to the latest data, first-time homebuyers are beginning to trust it.
The information is still sparse, but it’s one of the first times the government has put out information on the programs.
In Federal Housing Finance Agency Director Mel Watt’s testimony for his hearing before of the House Financial Services Committee, he gave a brief update on the low down programs when talking about new credit initiatives.
“FHFA continues to work with the Enterprises on other access to credit initiatives, including low-down payment programs,” said Watt. “FHFA and the Enterprises’ analysis showed that many borrowers…