Some Home Buyers Could Soon Get a $1 Million Mortgage With a 3% Down Payment

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Some Home Buyers Could Soon Get a $1 Million Mortgage With a 3% Down Payment
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How new federal mortgage limits could change the math on your house hunt

In October, 12.5% of for-sale homes were priced at or above $1 million, according to Realtor.com data.To qualify for a $1 million mortgage, Americans typically have to make a down payment of at least 20% of the home’s price.

Starting next year, some buyers could put as little as 3% down.
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