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whats the min i can put down on a fannie loan?

is there a difference between fannie and freddie for down payment? i just want to know the minimum and which is lower or better for someone with 718 credit. by scorbine8234191 from Dunkirk, Ohio. Jun 9th 2014 Reply


Ken Burrows (mortgagesforamerica)
#19 ranked lender in Nevada - 572 contributions

They are pretty much the same when it comes to that. 5% down. If you would like a pre-approval I issues those really quickly with $0 lender fees. Let me know if I can help. Ken Burrows - 888-320-7888 - www.MortgagesforAmerica.org

Jun 9th 2014
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,213 contributions

Fannie Mae backed loans require 5% down. However, some states, like here in Minnesota, have some state agency assistance loans backed by Fannie Mae that only require 3% down if you fit the assistance program qualifications. Check with a local mortgage broker in your area for details, but again, for most people, at least 5% down. www.StPaul-Mortgage.com

Jun 10th 2014
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

5% is going to be the minimum to put down on a Fannie Mae and Freddie Mac loan. Both are going to be similar in programs with only slight differences based on specific circumstances. You may also want to check to see if Ohio has any local programs like http://www.ohiohome.org/programs.aspx / that might be of interest. I would suggest speaking with a local loan officer and have them review all of your options with you. Best wishes, Sean

Jun 10th 2014
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