$3,000 Down Payment/Closing Cost Assistance for First-Time Homebuyers
Freddie Mac’s BorrowSmart AccessSM mortgage aims to assist borrowers by providing built-in down payment/closing cost assistance.
Program Benefits:
- Assistance to achieve a 3% min down payment, or assistance towards closing costs
- Allows borrowers to bring less of their own funds to closing table, retaining more for reserves
- Pre-purchase counseling provided
Program Requirements:
- Complete homebuyer counseling
- First-time homebuyer
- 1 or 2 unit owner-occupied primary residence
- Must meet income requirements and be located in a metropolitan eligible area