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
Wanda Trosclair, hands down, she is the best to work with .
Absolutely the best… from start to finish!!
I cannot say enough about Clayton! He made himself available to us any day at any time and always made us feel we could always call him. When he showed up at our closing just to bless us with a gift and well wishes, I almost cried. He really cares. I would recommend GMFS to anyone. Ask for Clayton.
I had a great experience obtaining a mortgage and closing on my house. My loan officer, Will Goodwin, made the whole process so easy for me helping me every step of the way. I would recommend GMFS and more importantly Will to anyone looking for a home loan.
Brad has always been a fantastic mortgage professional. I have worked with him on 2 real estate transaction and in both cases I have been completely satisfied.
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