Mortgage Help For First Time Buyers

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As mortgage rates hit new highs, many banks have begun offering mortgages that don’t require first-time buyers to save up for a sizeable down payment. Clare Losey at the Texas A&M Real Estate Center says this will help close the wealth gap. But critics of the programs fear it could backfire, similar to what happened during the foreclosure crisis of the mid-2000s, and potentially harm the communities they designed the program to help.

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