The Real Deal did a good job in breaking down the new program by Fannie Mae set to be available December 12, 2015 – “Fannie Mae Offers Added Flexibility to Borrowers.”
Many think that you need to put 20% or more down and a lot of banks will require 25% down on a primary residence and 30% on a second home so that the financing falls into the “Limited Review” condo requirements that Fannie Mae & Freddie Mac require. You can buy a condo with as little as 3% down if it’s a primary residence.
