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HomeOne® Loan for First Time Home Buyers
Freddie Mac HomeOne® mortgage is a great option for first-time homebuyers, as it offers a low down payment option while providing competitive and flexible mortgage options. This mortgage product is designed to help first-time homebuyers purchase a home more affordably, even with a limited down payment.
The Freddie Mac HomeOne® mortgage has a few key features, including:
- Flexible eligibility requirements. Buyers don’t need a perfect credit score or a large down payment when applying for a HomeOne® mortgage.
- Low down payments. The down payment requirement for HomeOne® is a minimum of 3%.
- Competitive interest rates. HomeOne® mortgage rates are competitive and can be easily compared with other mortgage products.
- Options for different loan types. You can choose between fixed-rate and adjustable-rate mortgages, as well as FHA and VA loan options.
- Low PMI (Private Mortgage Insurance) costs. PMI may be required with low down payment mortgages, but the cost can be up to three times less with a HomeOne® mortgage.
- Maximum loan limits. Compared to many other mortgages, HomeOne® offers higher maximum loan limits, allowing borrowers to finance more expensive homes.
