Freddie Mac offers $2,500 credit to low-income homebuyers for down payment, closing costs, amid high rates and low supply.
Freddie Mac has announced that it will be offering a $2,500 credit to very low-income purchase borrowers, to help with down payment and closing costs amid elevated interest rates and low housing supply. The credit will be available for homebuyers earning 50% of area median income or less, through Freddie Mac's Home Possible and HFA Advantage mortgage products. The credit can be used for down payments, closing costs, escrow, and mortgage insurance premiums.
February 05, 2024
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