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%
Contact a GMFS Mortgage Loan Officer today!
Customer Reviews
GFMS mortgage is trustworthy and timely. I would recommend using them.
I enjoy working with mark griffin, and staff they were on top of thing if you buying a house , 1 month and I am in my house , your are the bomb. Com
I am so happy that God sent GMFS Mortgage to me. everyone was awesome and professional. I emailed almost every day and they responded with no problem. I closed within a month from finding my home. Michelle Acosta and Kelsey Raynier were beyond phenomenal. First time home owner process was a breeze. Thank you guys So much
These folks were super friendly, honest and professional and my loan process was a breeze.
Established
Over 89,000 customers and $14.9 billion in residential mortgage funding in 23 states
Efficient
Processing, underwriting, and closing under same roof means smooth & predictable closings
Trusted
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Experienced
GMFS staff has an avg. of 14+ years of mortgage industry experience