Rather, it’s a government-sponsored agency created to help middle-and lower-income Americans buy homes. It’s important to note that Freddie Mac is not a mortgage lender. “This loan is primarily aimed at first-time purchasers who do not have a lot of disposable income but want to enter the market with a low down payment.” “This loan is primarily aimed at first-time purchasers who do not have a lot of disposable income but want to enter the market with a low down payment,” says Leonard Ang, CEO of iPropertyManagement. Thanks to its lenient underwriting guidelines, the HomeOne loan can be a great choice for low-income or moderate-income borrowers. Introduced in 2018, Freddie Mac’s HomeOne mortgage loan is designed to make financing more accessible for prospective home buyers as well as homeowners looking to refinance. And it has looser eligibility guidelines than many programs - making this an attractive option for first-time home buyers.Ĭheck your 3% down mortgage eligibility.

HomeOne lets you buy a house with just 3% down. The Freddie Mac HomeOne loan is such a program. Saving for a down payment is one of the biggest hurdles for first-time home buyers.įortunately, there are a number of low- and even no-down-payment loan options. The HomeOne loan makes home buying easier

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