Posts by Christina Boyle
Chris Boyle is Senior Vice President and head of the Single-Family Sales & Relationship Management organization. In this capacity, Ms. Boyle has responsibility for sourcing Freddie Mac’s single-family business, which includes National Lending, Regional Lending, Community Lending, and corporate accounts. In her position, she also oversees all customer engagement activities. Ms. Boyle is a member of the executive leadership team and reports to David Lowman, executive vice president of Single-Family Business.
Mortgage interest rates are holding near historic lows and housing remains affordable across most of the U.S. For those who have their financial house in order, it's a great time to buy a home. But many potential buyers can't because they don’t qualify for a mortgage. And many aren't even attempting because they believe they could not qualify.
Today's consumers persistently overestimate the size of a down payment they need to finance a home. Just how deep-rooted the myth of the large down payment is was made plain in some recent research from Zelman & Associates in New York, which found respondents, on average, believe lenders require equity of 11 to 15 percent.
April marks the beginning of the homebuying season, and for the first time in well over a decade, home sales – not refinancings – are expected to dominate the market. But a few stubbornly persistent myths about buying a home are likely to keep some potential buyers on the sidelines. Let's knock down those myths with the facts.
A little-known change in Freddie Mac’s rules could be a big help to qualifying retiring Baby Boomers and other savvy homebuyers who have limited incomes but substantial financial assets, for a low-rate conforming, conventional mortgage.