A Little Healthy Competition is Good. Move Over FHA, Freddie Mac is Taking a Seat at Your Table.
Freddie Mac just launched HomeOne, a low, 3% down payment Conventional Loan with no income or
geographic limitations! This announcement puts Freddie Mac in direct competition with FHA’s low down payment mortgage and
gives more options for buyers. This may possibly be a better option for buyers, as the appraisal guidelines of conventional loans are less strict than FHA appraisal guidelines.
HomeOne Loans are only available for conforming fixed-rate mortgages. Single family houses,
townhouses and condos all qualify, however manufactured homes are ineligible.
Purchase a 1-unit primary residence
At least 1 buyer must be a first-time homebuyer
Participate in homeowners education to qualify
All Borrowers must occupy the mortgaged premise
HomeOne Mortgages will be available July 29, 2018.
For more information please go to www.freddiemac.com
Source: National Association of Realtors, Freddie Mac