HomeOne 3% Down

HomeOne is a Freddie Mac program which is a low down payment mortgage for creditworthy, borrowers with NO income limits.

The biggest challenge faced by new home buyers is overwhelmingly the down payment. You’re not alone if you’ve ever thought you could never save enough money for a down payment. HomeOne can help!

Borrower Benefits and Program Details

• Borrower is not required to be a first time buyer
• Available for purchase or no cash out refinance
• 3% down for single family homes
• Primary Residences, 1-4 units, Condos and Planned Unit Developments
• Reduced Mortgage Insurance offered on this program
• Minimum FICO score of 620
• A great alternative to FHA financing (unlike government-insured loans, borrowers may have the option to cancel their mortgage insurance once their home equity reaches 20%).
• Cash for down payment and closing costs can come from multiple sources, including gifts, grants, and Community Seconds, with NO minimum personal funds required
• Innovative underwriting flexibilities expand access to credit responsibly. Flexibilities include rental unit and boarder income.
• Nonoccupant borrowers permitted for single family properties
• NO income limits

What is the difference between HomeReady, HomePossible and HomeOne?

HomReady and Homepossible have income limits but the HomeOne allows the low downpayment of 3% without having income restrictions.