Freddie Mac HomeOne
Freddie Mac has created a new mortgage program for First Time Homebuyers. The main difference between HomeOne and Home Possible is that HomeOne does not have any income or geographic limits.
Features:
- Up to 97% financing for home purchase or rate-term refi
- No Income or Geographic Limits
- Flexible source of funds – can be used for your down payment and closing costs with no minimum contribution required from your own funds
- No Reserves required
- Conventional home financing with cancellable monthly Mortgage Insurance (MI) – helps you save money
Eligibility:
- One Borrower must be a first time home buyer (meaning no ownership interest in a residential property for past three years)
- 30 Year Fixed only
- All borrowers must occupy the property
- Primary residence only
- Homeownership education required if all borrowers are first time buyers – helps you get ready to buy a home and be prepared for the responsibility of homeownership. The Freddie Mac required homeowner education training is available online at http://www.freddiemac.com/creditsmart
- Borrowers can own other property
- Mortgage Insurance is required for LTV (Loan-to-Value) greater than 80%
Swipe left to see more reviews
Customer Reviews
I am a returning customer to Ashley. She always has great communication & looks for the best option for me.
Excellent communication, swift response, very professional. Would recommend every time.
ALL AROUND GREAT EXPERIENCE.
AMAZING team!!!! I worked with Ryan in the beginning then was tranferred to the Bickley team because of Alvarez. Everyone was professional and so helpful. Special thanks to Alesia who went above and beyond to answer any questions we may had. Also Shelby Maghee helped in this process too. Everyone was extremely communicative and made the process so smooth. Would 10000000% recommend to anyone especially first time home buyers because they can walk you through the process!
I recently worked with Brad Johnson at GMFS Mortgage, and I am very pleased with the experience. From start to finish, the process was smooth, and Brad was professional, knowledgeable, and responsive. He answered all my questions promptly and guided me through every step, making the loan process stress-free. I highly recommend Brad Johnson at GMFS Mortgage for anyone looking for a reliable and positive mortgage experience!
Established
Over 150,000 customers and $30 billion in residential mortgage funding in 23 states
Efficient
Processing, underwriting, and closing under same roof means smooth & predictable closings
Trusted
A+ rating with BBB and winner of Torch Award for Marketplace Trust
Experienced
GMFS staff has an avg. of 14+ years of mortgage industry experience
*Not a commitment to lend. All loans subject to credit and property approval. The following terms are for illustrative purposes only. Rates, payments, and loans terms vary by consumer based on their individual qualifying information. The payment amount illustrated does not include the amounts for taxes, property insurance, or mortgage insurance.
Loan Term | Down Payment | Annual Percentage Rate | Estimated Monthly Payment |
30 year fixed rate | 10% (90% LTV) | 4.75% | $1,043 |