Deferred Second Mortgage
Freddie Mac, the other major agency that buys and sells home loans, offers the HomeOne℠ first-time homebuyer program through approved conventional lenders. There are no income limits, but there is a homebuyer education requirement when all borrowers on the loan are first-timers.
Available to qualified first-time homebuyers for a low down payment of just 3%, the Freddie Mac HomeOne℠ mortgage is a low down payment option that serves the needs of many first-time homebuyers, along with no cash-out refinance borrowers.
This mortgage solution allows you to help more first-time homebuyers achieve the milestone of homeownership, regardless of their income levels or geographic location. HomeOne℠ reflects our dedication to responsible lending, sustainable homeownership and improving access to credit.
With more flexibility for maximum financing, HomeOne℠ provides expanded opportunity and greater certainty to bring more borrowers to the closing table.