Property must be a primary residence located in a BorrowSmartSM eligible state to see if your state is eligible for the program check hereLoan must be approved by a Loan Product Advisor (LPA) Borrower must complete pre-purchase counseling with a HUD-approved Homeownership Preservation Foundation (HPF) provider$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% $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% $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:
