Life just got easier and cheaper for millions of US residents. Freddie Mac, the second largest owner of mortgages in the US, just announced that it has expanded its loan-to-value ratios for many of its loan programs offered through approved lenders.

Now, all resident aliens are eligible for the same high loan-to-value ratio loans as US citizens and permanent resident aliens.

Previously, resident aliens were generally limited to a maximum of 75% loan-to-value prior to establishing a two- year US residency and work history.

It should be noted that lenders must still develop and verify that the applicants have an acceptable credit history and credit reputation such that the applicants meet the normal eligibility requirements for Freddie Mac.