抖阴ap

WASHINGTON — Some first-time home-buyers will get a break on their down payments through programs announced Monday by mortgage giants Fannie Mae and Freddie Mac. The move comes as the firms try to jump-start the housing market by making it easier for more borrowers to qualify for a mortgage. Fannie and Freddie will soon allow for mortgages with a down payment as low as 3 percent — instead of the 5 percent currently required — as long as one of the borrowers on the mortgage has not owned a primary residence within the past three years. The changes take effect Dec. 13 at Fannie, and March 23 at Freddie. In a call with reporters Monday, Fannie and Freddie officials said it’s too early to tell how many borrowers will take advantage of the programs. But they also said they expect many lenders to offer them. The Federal Housing Finance Agency, which oversees both companies, said these low down-payment loans will probably be a small share of both firms’ businesses. Fannie and Freddie do not make loans; they buy them from lenders, package them into securities and sell them to investors. For a fee, they guarantee the mortgages and pay investors if the loans default. The down-payment changes mark the latest effort by government regulators to help first-time buyers who have been shut out of the housing market in recent years.