More than 40% of those who have never owned a home, primarily renters, still believe that a 20% down payment is required to own a home.
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Survey: Nearly 70 Percent of Industry Professionals See Lower Down Payment As Positive
The majority of mortgage industry professionals said they believed that the lowering of the down payment to 3 percent for first-time homebuyers by Fannie Mae and Freddie Mac is a step in the right direction for the housing market, according to the Collingwood Group's November 2014 Mortgage Industry Outlook Report released earlier this week.
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