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NMLS# 243348
Full-Service Loan Originators
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FREDDIE MAC BORROWSMART℠ PROGRAM
The BEST HOME LOAN LENDER for
HOME BUYERS and REAL ESTATE INVESTORS in California
FREDDIE MAC BORROWSMART® PROGRAM
At The LOAN Lady Home Loans
California's Best Mortgage Lender for Home Loans
With Freddie Mac's affordable lending solutions, you can grow your business focusing on qualified first-time borrowers and high needs markets.
Explore affordable data and insights, tools, mortgage products, technology solutions and resources – all in one place. Use the guide to learn more about Freddie Mac’s affordable solutions.
GETTING PRE-APPROVED
At The Loan Lady - Southern California's Trusted Mortgage Lender
Obtaining pre-approval offers numerous benefits for home buyers and can also speed up the purchasing process. Benefits of choosing The Home Loan Lady includes:
THE FREDDIE MAC BORROWSMART℠ PROGRAM
AFFORDABLE LENDING SOLUTIONS
Looking to buy a new home but struggling with down payment or closing costs?
You're not alone. Luckily, there's a solution: Freddie Mac BorrowSmart® Program
The Freddie Mac BorrowSmart® Program is tailored for low- to moderate-income borrowers, providing up to $1,250 for down payment and/or closing cost assistance, depending on eligibility. The great news is that the assistance you receive from BorrowSmart is a grant, meaning you won't need to repay it.
If you meet the qualifications for a FREDDIE MAC HOME POSSIBLE ® or FREDDIE MAC HOMEONE® mortgage and have sufficient funds for a 3% down payment, you may be eligible for assistance.
The LOAN Lady Home Loans
More Benefits of Freddie Mac BorrowSmart® Program
The Freddie Mac BorrowSmart® Program is a flexible program that allows you to combine it with other eligible sources such as gift funds from family or non-profits, employer-assisted homeownership programs, and Affordable Seconds®.
This means that you can use a variety of sources to help you reach your minimum down payment, your closing costs, or both, and not necessarily need to fund all of these upfront costs with money from your savings.
FREQUENTLY ASKED QUESTIONS
FREDDIE MAC BORROWSMART℠ PROGRAM AT THE HOME LOAN LADY
WHO QUALIFIES FOR THE FREDDIE MAC BORROWSMART℠ PROGRAM
To be eligible for The Freddie Mac BorrowSmart® Program, homebuyers must undergobuyer counseling, designed to equip them for successful long-term homeownership. The usual fee for this counseling is $99.
This program exclusively applies to primary residences, meaning it does not cover second homes or vacation properties. Additionally, the level of assistance available to a homebuyer is determined by their. Eligible properties may include condos, planned unit (PUDs), and manufactured homes.
HOW MUCH CASH CAN I RECEIVE?
Based on your income and various other factors, you might qualify for The Freddie Mac BorrowSmart® Program. Here’s a summary of the cash contributions homebuyers could potentially apply to their home purchase:
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Borrowers whose qualifying income ranges from 50.01% to 80% of the county's AMI may be for $1,250.
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Borrowers whose qualifying income ranges from 80.01% to 100% of the county's AMI may be eligible for $1,000 if their property is located in a higheds area with specified rural tracts.
ELIGIBILITY HIGHLIGHTS
The Freddie Mac BorrowSmart® Program
PRIMARY RESIDENCES ONLY
HOMEBUYER COUNSELING REQUIRED
AVAILABLE IN ALL 50 STATES
LOW AND MODERATE INCOME REQUIREMENTS
ELIGIBLE PROPERTY TYPES
The Freddie Mac BorrowSmart® Program
1-UNIT SINGLE FAMILY HOMES*
CONDOMINIUMS
PLANNED UNIT DEVELOPMENTS
MANUFACTURED HOMES
(not eligible for HomeOne®)
The Freddie Mac BorrowSmart® Program simplifies the home-buying process in California If you or other homebuyers you know are facing challenges in gathering the necessary funds for significant upfront expenses, such as the down payment or closing costs, this program could be the ideal solution.
The LOAN Lady Home Loans is here to guide you through all the details of the
Freddie Mac BorrowSmart® Program and our other flexible home loan options.
The team at THE LOAN Lady Home Loans is here to assist homebuyers by providing mortgage solutions that align with their finances, family needs, and future plans.
FREDDIE MAC BORROWSMART® PROGRAM
Closing the Gap Between Homeownership and Underserved Communities
The LOAN Lady Home Loans is more than just a mortgage lender and servicer; we are catalysts for change. Our dedicated mortgage broker, Joanna Perry, is passionate about making a difference, promoting inclusivity, and empowering individuals and communities to flourish through the benefits of homeownership.
We recognize that prioritizing homeownership in underserved communities starts with expanding loan programs to offer mortgage options. Our goal is to make homeownership accessible to all, regardless of income or background.
CLIENT TESTIMONIAL
"Purchased my first home with them! Ax and Joanna were absolutely amazing and helped me and my family through a lot of obstacles that come with purchasing our home. I appreciated how they broke down every step of the way in a way we understood and were always quick to respond. I would definitely recommend them and work with them again."
Paloma M., Woodland Hills, California
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