Enhancements to the Freddie Mac Program

HomeBridge is pleased to announce we are aligning our Freddie Mac program guidelines with the recent updates announced by Freddie Mac in Bulletin 2018-7 issued April 25, 2018 and Bulletin 2018-10 issued June 27, 2018.

HomeOne:  97% LTV/CLTV Purchase First-Time Home Buyers

Freddie Mac has introduced HomeOne, which allows first-time home buyers to go up to 97% LTV/CLTV on purchase transactions subject to the following:

  • At least one borrower is a first-time home buyer. A first-time homebuyer is defined as a borrower who has not had an ownership interest (sole or joint) in a residential property in the previous 3 years

NOTE:  If all borrowers on the loan are first-time home buyers, Freddie Mac requires one borrower to complete homeownership education.  Freddie Mac offers a free, online program CreditSmart that fulfills this requirement

  • The property is a 1-unit primary residence (SFR/PUD, condo, townhouse)
  • All borrowers on the transaction must occupy the subject property as their primary residence
  • Fixed rate with a 15, 20, 25, or 30 year term
  • LPA “Accept