Irvine, CA, Feb. 19, 2015 — The 3% downpayment mortgage wasn’t very popular last year, according to real estate tracking firm RealtyTrac.
The firm said that the mortgage, which made up 25% of all house loans, was at its lowest level in the last 10 years. That was down from 27% the previous year and down from the average of 33% over the last 11 years.
The low downpayment loans appeal mostly to first-time buyers.
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