Federal Home Loan M Fre1C 1,Idai - Freddie Mac 2025

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One of the most notable differences between Freddie Mac loans and FHA loans is the upfront funding fees and mortgage insurance policies. Both the Home Possible and HomeOne Programs do not require an upfront funding fee or mortgage insurance.
Freddie Mac Home Possible mortgages include features that are designed to serve low- and moderate- income borrowers and first-time homebuyers. Features include down payments as low as 3 percent, fixed rates, and reduced mortgage insurance coverage levels.
Freddie Mac Home Possible Pros and Cons ProsCons The program offers competitive rates and fees. The loan must be used for primary residence. You have more flexibility on down payment sources including gifts, employer-assistance programs, secondary financing and sweat equity. There is no flexibility on income limits.1 more row
Freddie Mac is a government-sponsored enterprise or GSE, created by the federal government to ensure access to home mortgage credit. Freddie Mac has a statutory mission to provide liquidity, stability, and affordability to the U.S. housing market. Freddie Mac does not make loans directly to homebuyers.
The Freddie Mac HomeOne mortgage is a loan program for first-time homebuyers that lets you purchase a house with just 3% down. Unlike some other low down payment programs for first-time homebuyers, with HomeOne there are no income limits.

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Freddie Mac outlines several eligibility criteria for borrowers including: A credit score of 660 or higher. A debt-to-income rate of 43% or lower. A down payment of 3% Proof of stable employment and income. A combined income for all borrowers of no more than 80% of the areas median income.

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