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!
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Customer Reviews
Mimi Doucet and Team did a great job staying on top of the rapidly changing financial market, keeping us informed of the changes and providing expert advice on the best way for us to proceed with the purchase of our home. The team was always available to answer any question we had and provided a very pleasant working relationship!!!
Andrea is absolutely amazing! She is my go to lender. She is always available when I need her and my clients love her also. She is great at communicating and keeping us updated throughout the financing process. We have worked several deals together so far and I keep coming back because of her 5 star customer service.
Aaron Taravella and his team were FABULOUS to work with! They helped me with my personal home purchase. Any questions I had, I received a timely response and they kept me updated throughout the entire process. Great work, guys. And THANK YOU!
A huge shout out to Josh who stuck with us through a very long process of building our dream home and became a friend of ours. Christian was amazing with answering all the questions I came up with and organizing our loan. Every person we spoke with at GMFS was professional and kind! Thank you!
Established
Over 140,000 customers and $27 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 |