Freddie Mac
Borrow Smart ProgramSM

Get up to $1,500 toward your down payment or closing costs with the Freddie Mac BorrowSmart ProgramSM.

Qualifications

  • CheckProperty must be a primary residence located in a BorrowSmartSM eligible state to see if your state is eligible for the program check here
  • CheckLoan must be approved by a Loan Product Advisor (LPA)
  • CheckBorrower must complete pre-purchase counseling with a HUD-approved Homeownership Preservation Foundation (HPF) provider

Highlights

  • Check$1,500 program for borrower(s) whose qualifying income is less than or equal to 50% of the county area median income (AMI) with a minimum Loan-to-Value (LTV) of 90%
  • Check$1,000 program for borrower(s) whose qualifying income greater than 50% and less than or equal to 80% of the county AMI with a minimum LTV of 90%
  • Check$1,000 program for borrower(s) whose qualifying income greater than 80% and less than or equal to 100% of the county AMI with a minimum LTV of 95%

Saving for a down payment is one of the biggest obstacles today’s first-time home buyers face. The Freddie Mac BorrowSmart ProgramSM helps to decrease those costs and make homeownership more accessible.

To learn more about BorrowSmartSM or to speak with a loan officer:

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