Low down payments for first-time homebuyers or new rates and terms for homeowners with a Freddie Mac loan

The Freddie Mac HomeOne℠ mortgage is a low down payment option for qualified first-time homebuyers. It helps hopeful first-time buyers become homeowners, offering relaxed requirements for income levels and geographic locations. HomeOne℠ only requires a 3% down payment, and you’re not limited to a traditional, single-family residence.

If you already have a Freddie Mac mortgage, this program offers a no cash-out refinance so you can change the rates and terms of your loan.

Key Features and Benefits: 

• Low down payments beginning at just 3% of your total loan payment. 

• You may qualify with a minimum 620 FICO score 
• Several property types are allowed, including single-family home, condo, modular homes, one unit co-ops, manufactured home* and homes in Planned Unit Developments (PUDs) 
• No income or geographic restrictions, so you're free to shop for a home within the neighborhood you prefer. 
• Homebuyer education is required, and help you prepare for the responsibilities of a mortgage. 

* Manufactured homes are allowed on Purchase and Rate Term Refinance Transactions of a Primary Residence only. Among other requirements, 95% LTV and a minimum of 640 FICO required.