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%
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Customer Reviews
Jason Vick, Was great, He was on time with everything, he double check on me to make sure I received and sign my paperwork and any questions I had for him, he was right on it, GMFS MORTGAGES AND Jason Vick was awesome and I definitely will refer them to everyone I know…keep up the great job
Awesome experience with GMFS. So professional, very prompt in their response and assistance. Blake and Sandy helped me to get everything done so easy and quickly. I would recommend without thinking twice.
Monica was wonderful to work with. The very first conversation I had with her – I knew I was in the right hands. She walked me through everything – answered all my questions.
I really felt like I had made a friend by the end of the process.
Working with John Graeber was an absolute pleasure! From the very beginning, he made the mortgage process smooth, stress-free, and transparent. He took the time to explain every detail, answered all our questions promptly, and provided the best possible loan options tailored to our needs.
His professionalism, expertise, and dedication were truly exceptional. Communication was top-notch, and I always felt informed and supported. I highly recommend him to anyone looking for a trustworthy and efficient mortgage lender. Thank you for making our first home-buying experience seamless and enjoyable!
Great service, easy communication & a really comfortable 1st time home buyer experience. I highly recommend GMFS Mortgage.
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 |