Freddie Mac, one of the leading mortgage giants, has unveiled an exciting program aimed at helping very low-income borrowers overcome the significant financial hurdles associated with purchasing a home during these challenging times. The company will be offering a generous $2,500 credit to eligible borrowers to assist with various home purchase costs, providing a much-needed lifeline for those struggling to make ends meet in the housing market.
The new initiative from Freddie Mac addresses the pressing issue of affordability, which has become an increasingly daunting barrier for low-income individuals seeking to become homeowners. By offering this credit, the mortgage lender hopes to level the playing field and enable more families to achieve their homeownership dreams. Here are the key highlights of this program:
• $2,500 credit for very low-income borrowers: Freddie Mac is introducing a substantial credit that can be utilized towards various costs associated with purchasing a home.
• Assisting financially challenged borrowers: The program specifically targets individuals with very low incomes, providing much-needed assistance to overcome financial obstacles in the housing market.
• Addressing affordability concerns: With soaring housing costs impacting low-income households, this initiative aims to alleviate some of the burden and promote homeownership opportunities for all.
Freddie Mac’s $2,500 credit for low-income borrowers is a significant step towards increasing access to homeownership for those facing economic challenges.
You can read this full article at: https://www.housingwire.com/articles/freddie-mac-to-offer-2500-credit-through-home-possible-hfa-advantage-mortgage-products/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.