3% down payment isn’t the major issue here, since down payment these days is more controlled by mortgage qualification standards (43% DTI, etc). Plus FNMA offered 3% down till 2013, if not later, so it’s just going back to last year’s standards.
Actually, stricter than last year, since they’re talking about only offering it to first-time home buyers, not investors (as they did through HomePath till recently).
Moneymaker- you’re probably a bit smarter than the average piece of human trash that was getting subprime loans in the mid-2000s.
