Freddie Mac HomeOne
FICO per AUS
Up to 97% LTV
Freddie Mac HomeOne is a mortgage program designed to help first-time homeowners with no geographic or income restrictions. It offers low down payment financing with flexible loan options.
Program features- Loan amounts up to $832,750
- FICO as per AUS
- Up to 97% LTV
- Minimum down payment is 3%
- MI is standard at 35% or 18% with a LLPA
- At least one borrower must be a first-time homebuyer
- Temporary rate buydowns available
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Program details
Loan amounts up to $832,750
Minimum down payment is 3%
Max CLTV is 105%; max LTV is 97%
Primary Residence only
MI is standard at 35%; reduced MI at 18% is permitted with a LLPA
Min. FICO as per AUS
Findings must state the loan is being assessed as a HomeOne
Min. LTV is 95.01%; max. LTV is 97%;
No High Balances allowed
Gift funds are allowed
DTI as per AUS
Temporary rate buydowns available
Minimum reserve requirements as per AUS
No cash-out allowed
Homebuyer education is required for first-time homebuyers
No manufactured housing allowed
Qualifying income as per AUS
Fixed term
Eligible citizenship: US citizen, lawfully residing Permanent and non-Permanent residents
Eligible property: single-family homes, 1-4 units, condominiums
Eligible borrowers: at least one borrower must be a first-time homebuyer
LTV and/or HTLTV > 95%: the mortgage being refinanced must be owned or securitized by Freddie Mac
TLTV ratios > 95% and secondary financing is not an Affordable Second; the mortgage being refinanced must be owned or securitized by Freddie Mac
TLTV ratios > 95% and secondary financing is an Affordable Second; the mortgage being refinanced does not have to be owned or securitized by Freddie Mac
Fast turnaround times
As fast as
24 hr
Disclosure
As fast as
24 hr
Underwriting
As fast as
48 hr