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

Lindsey W. GMFS Mortgage Customer

Tuesday October 29, 2019

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Very easy process, no costly surprises

Kevin K. GMFS Mortgage Customer

Monday October 28, 2019

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It was a great experience working with GMFS. Ms Lainey was a great help and made things as easy as possible

Darius M. GMFS Mortgage Customer

Monday October 28, 2019

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GMFS staff are very helpful during the loan process. They are courteous and professional and go out of their way to make sure you understand all the steps of the application and approval process. Paul Plaisance is knowledgeable and very accessible for questions. Highly recommend.

Terry W. GMFS Mortgage Customer

Thursday October 24, 2019

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Ashley GMFS Mortgage Customer

Wednesday October 23, 2019

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