We are excited to introduce the Freddie Mac HomeOne Mortgage, available to qualified first-time home buyers for a low down payment of just 3 percent! Unlike many current low-down mortgage programs, HomeOne has no geographic or income restrictions. Since first-time home buyers currently make up nearly half of all home purchases, this program is designed to fully benefit them. We understand that home-ownership is a huge milestone, which is why we are happy that we can now better assist first-time home buyers to achieve this dream!
The HomeOne mortgage is a fixed rate mortgage that can be used on single family, owner occupied, 1 unit properties. In addition, at least one of the borrowers must be a first-time home buyer. This program defines a first-time buyer as a borrower who has not owned a home in three years. If there are multiple borrowers, at least one must participate in a home-ownership education class to qualify for the mortgage! This new program will provide buyers with more flexibility and can ease challenges that arise from saving for a down payment and closing costs.
HomeOne will be available starting July 29, 2018!
For more information and requirements about this program, please contact us today.
To see other mortgage options, click here!