Homebuyers could soon get a $1 million mortgage with a 3% down payment

To qualify for a $1 million mortgage, Americans typically need to put down at least 20% of the price of the home. Starting next year, some buyers could put as little as 3% down. The ceiling for home loans backed by Fannie Mae and Freddie Mac rises to $1,089,300 next year in a few expensive …

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