Home affordability remains near a post-recession low, and the share of the median income necessary to make principal and interest payments on a median priced home is at a post-recession high of 22.6 percent. The recent pull-back of rates would have a net impact of reducing that cost by …
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Fannie Mae’s article, “What Consumers (Don’t) Know About Mortgage Qualification Criteria,” revealed that “only 5 to 16 percent of respondents know the correct ranges for key mortgage qualification criteria.”
Myth #1: “I Need a 20% Down Payment”
Fannie Mae’s …
