Freddie Mac mortgage program for First Time Buyers. The main difference between HomeOne and Home Possible is that HomeOne does NOT have any income or geographic limits.

Features:

• 97% LTV
• No Income or Geographic Limits
• One Borrower must be a 1st Time Buyer *
• Purchase & Rate -Term Refi
• Primary Residence Only
• SFR, Condo, and PUDs
• 30 Year Fixed only
• All Borrowers must occupy the property
• Gifts allowed
• No Reserves required
• Mortgage Insurance Coverage = 35%
• Home Buyer Education required *

 

* A First Time Buyer is an individual that has had no ownership interest in a residential property in the last 3 years.  If both buyers are First Time Buyers, at least one of them must complete Home Buyer Education