Headlines: Rule change may lower down payment requirement to 3%
Here’s a look at what’s happening in real estate in the District of Columbia and beyond.
The word “overlay” in the context of home loans refers to the mortgage approval standards that lenders and their investors place above the guidelines set by Fannie Mae, Freddie Mac, the Federal Housing Administration and the Department of Veterans Affairs. — Washington Post
The mixed-use residential and retail project, at 2030 8th Street, N.W., will include 62 one- and two-bedroom condos with public and private rooftop terraces, a fitness center and ground-floor restaurants. — Washington Business Journal
The regulator of Fannie Mae and Freddie Mac said on Monday it was developing rules to let Americans buy homes with down payments as low as 3 percent, part of a push to boost access to credit. — CNBC
At least one DC developer, SB-Urban, is focusing exclusively on building micro-units and has 355 high-end units spread across three properties in its pipeline. Other developers are planning similar, albeit smaller, developments around the city. — Urban Turf
The 36 action items described in today’s plan tackle a broad array of challenges. There are public transit improvements, like dedicated bus lanes on a stretch of Georgia Avenue NW, traffic-light priority for 16th Street NW buses, and real-time arrival information in bus shelters across the city. — Washington City Paper
The county Attorney’s Office issued a statement Wednesday that the couple used an online system to find homes in that were for sale in 2012 and then one would pose as a real estate agent to book times at the homes when the couple knew that homeowners would be away, according to the statement. — USA Today