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!
Swipe left to see more reviews
Customer Reviews
My Team at GMFS Mortgage was the Best! Always helpful and able to answer all of my questions and concerns.
These guys were a pleasure to work with through the whole home buying process. Highly recommended!
Aaron was very helpful in the whole process and getting ready for the home buying experience!
Very friendly and knowledgeable I highly recommend using GMFS!
I can’t say enough good things about Team Patton at GMFS. The entire experience was super quick and painless. I trust them with all my mortgage lending needs. Thank you, John and Team!
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 |