Freddie Mac Down Payment Assistance
We are proud to offer the Freddie Mac BorrowSmart® and BorrowSmart Access℠ programs, helping make homeownership more affordable for eligible homebuyers.
Eligible homebuyers can use these down payment assistance programs to:
- Achieve the minimum down payment required for their home loan
- Cover all or part of their closing costs
- Lower their monthly mortgage payment and debt-to-income ratio
- Bring less of their own funds to the closing table, retaining more funds for future needs
Freddie Mac BorrowSmart®
The Freddie Mac BorrowSmart® program provides $1,250 in assistance for income-qualified homebuyers to be used toward the down payment or closing costs required to purchase a home.
Did you know?
Freddie Mac BorrowSmart® can be used in conjunction with other down payment assistance programs that meet Freddie Mac guidelines. Contact your loan originator for details.
program details
- $1,250 in down payment and/or closing cost assistance available via lender credit
- No first-time homebuyer requirement
- Pre-purchase counseling required
- Available with 1–4-unit primary residences including manufactured homes and warrantable condos
Freddie Mac BorrowSmart Access℠
With the Freddie Mac BorrowSmart Access℠ program,* homebuyers can receive up to $3,000 in down payment and/or closing cost assistance.
program details
- Up to $3,000 in assistance
- Can be used in conjunction with other third-party DPA programs
- Must be a first-time homebuyer
- Income limits apply — contact your loan originator for details
- 1- or 2-unit primary residence, owner-occupied
- Pre-purchase counseling required
*Geographical restrictions apply — contact your loan originator to learn more.
