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Community News: South

SOUTH-CENTRAL : Fannie Mae Makes Home Buying Easier

August 29, 1993|SANDRA HERNANDEZ

Fred Thomas III wants to get the word out about a program aimed at helping low- and moderate-income residents buy a home.

Under the House America program, sponsored by the Federal National Mortgage Assn., clients are only required to come up with a 5% down payment instead of the standard 10%.

"We've had clients who have lived here 10 or 15 years who may not have a bank account and didn't think they could qualify," said Thomas, president of Professional Realty Mortgage.

Thomas' company is one of several smaller companies working with Countrywide Funding, a national mortgage company that offers loans under the House America program. The program is open to low- and moderate-income buyers of single-family homes or condominiums.

More information about the program is available at Professional Realty Mortgage's booth at the Black Family Reunion today at Exposition Park.

Information: (213) 385-5123.

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