In a recent article we highlighted a new program that allows for lower down payments on Jumbo Mortgages. Now MarketWatch is reporting that Bank of America is getting into the game and has lowered minimum down payments on some Jumbo Mortgages from 20% to 15%. This should help the demand for “move-up” houses, which historically have lead broader housing recoveries.
Today’s Mortgage Rates can be found here: https://www.moneycafe.com/personal-finance/mortgage-rates/
See also: http://www.marketwatch.com/story/for-down-payments-15-is-the-new-20-2013-11-11