New down payment option could boost homeownership

  • Freddie Mac is piloting a program that lets homebuyers get half of a 20 percent down payment covered by a financial firm (Unison Home Ownership Investors) in exchange for home equity.
  • Twenty Unison-boosted loans have closed so far, with 10 going to first-time buyers, but lenders expect to generate "thousands" over the next few years.

Don't miss Hacker Connect SF
Dive into the latest Technology affecting RE, July 17, 2018

Federal mortgage guarantor Freddie Mac is piloting a groundbreaking program that lets homebuyers get half of a 20 percent down payment covered by a financial firm in exchange for home equity.