Good news may be here in 2015 for CA homebuyers as Fannie Mae and Freddie Mac will be launching mortgage programs with down payments as low as 3%. These new mortgages are targeted at homebuyers with good credit but not enough cash for traditional loans.

These new loans, announced in December, reverse a trend of tighter lending standards by the government-sponsored mortgage giants since their taxpayer-financed bailouts. The programs allow only fixed-rate loans on single-family homes used as a primary residence.

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