Freddie Mac Home Possible program

Freddie Mac Home Possible® 2023: A Flexible, 3% Down Mortgage

The Freddie Mac Home Possible mortgage is the agency’s all-out effort to turn moderate-income renters into homeowners. Benefits include: Here’s what you need to do to get a Home Possible loan. In this article: Freddie Mac Home Possible quick guidelines You must earn a moderate income This program is open to those who make 80% …

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Qualify for a jumbo cash out refinance.

Jumbo Cash-Out Refinance 2023 Guidelines, Rates, and Lenders

Getting a jumbo cash-out refinance is a lot like getting a normal refinance, with two exceptions. First, you’re above standard Fannie Mae and Freddie Mac conforming limit, which is currently $726,200 as of 2023. Second, you’re getting a bigger loan than what you owe, yielding cash to you at closing. These loans are very available …

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All about the Freddie Mac HomeOne 3 percent down loan

Freddie Mac HomeOne® 2023: 3% Down, No Income Limits

Freddie Mac HomeOne® allows first-time buyers to access a 3% down conventional loan without income or geographic restrictions. This program is a game changer for any first-time buyer who can’t access other programs because they make too much or aren’t buying in eligible neighborhoods. Here’s your guide to HomeOne. Check your HomeOne eligibility. Freddie Mac …

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Detached condominium vs house. Which is right for you?

Is Buying A Detached Condominium A Terrible Mistake? Let’s Find Out

You may be scrolling through property listings and come across something strange: a detached condominium. It looks like a house, feels like a house, and acts like a house. Why is it a detached condo and is it something to avoid? What is a detached condominium? A detached condominium is a free-standing condominium unit within …

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How to shop for mortgage rates the simple way. Save thousands in minutes.

Save $2,000 In 10 Minutes By Shopping For Mortgage Rates

Shopping for a better mortgage rate is not nearly as exciting as searching for the best deal on a car or hotel room. Yet, more than one-third of homebuyers requested only one quote during the mortgage process, says a new study by mortgage giant Fannie Mae. Meanwhile, Expedia reports that vacationers review 38 websites before …

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Freddie Mac BorrowSmart Down Payment Assistance Program

Freddie Mac BorrowSmartSM: Up To $2,500 In Down Payment Assistance

What Is Freddie Mac BorrowSmartSM? BorrowSmart is a down payment assistance program from one of the nation’s largest mortgage agencies, Freddie Mac. This program, combined with one of Freddie Mac’s 3% down payment program could mean a homebuyer would need little or nothing out of pocket to close. The program is available to low- to …

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FHA Loans for Non US Citizens

How To Get An FHA Loan As A Non-U.S Citizen

You might be surprised that FHA, a U.S. government-sponsored mortgage, is available to non-U.S. citizens. What’s more, non-citizens are eligible for the same FHA rates and terms as citizens. Homebuyers immigrating from other countries often find this hard to believe, but it’s true. Permanent and non-permanent residents are eligible. Here’s how to get an FHA …

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Sample Letter of Explanation for Commute from Borrower

Sample Letter of Explanation for Commute: Word and Google Doc Templates

Mortgage lender asking about your commute? Don’t worry; it’s normal. The lender is verifying two things: The kind of commute letter you need depends on what the lender asks for.  Some underwriters might ask for a letter from your employer confirming that the commuting arrangement is acceptable. Or, the underwriter might ask for an explanation …

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