Friday, February 18, 2005

Freddie Mac unveils new home loan options

Mortgages require as little as $500 in borrower cash

Borrowers with limited credit and savings have more options with a new suite of mortgage products from Freddie Mac, including the Home Possible Mortgage and the Home Possible Neighborhood Solution Mortgages.

The new Home Possible Mortgage combines borrower education and early delinquency counseling, zero and 3 percent down payment mortgage products, and flexible credit requirements.

An additional new program, Home Possible Neighborhood Solution Mortgages, offers the same flexibility plus special features designed to boost home-buying options for teachers, law enforcement officers, firefighters and health care workers by as much as 30 percent in some cases.

The loan products are available through Freddie Mac's national network of more than 2,000 lenders and 10,000 mortgage brokers using Loan Prospector, Freddie Mac's automated underwriting service.

Both products are available as 15-, 20- and 30-year fixed-rate mortgages or as 7/1 or 10/1 adjustable-rate mortgages for one-unit properties.

The basic Home Possible mortgage is available either as a 100 percent loan-to-value mortgage that borrowers can use for single-family home purchases and no-cash-out refinancing, or as a 97 percent loan-to-value mortgage for one- to four-unit properties. Both the zero and 3 percent down payment versions of Home Possible allow borrowers to put down as little as $500 from their personal funds towards the down payment and closing costs for a one-unit property. Two-unit properties require borrowers to put in 3 percent of the property's value; 3-4-unit properties and manufactured homes require a 5 percent borrower contribution.

Read more INMAN NEWS

19 comments:

hplauze said...

I love your blog Blogger. How long has it been on-line? Reason I ask is I am doing a ton of work in the area of one year adjustable rate mortgages and will probably end up starting a blog of my own. Funny how the internet brought me here when I was doing searches on one year adjustable rate mortgages. Oh well, I am glad it did. Keep up the great blogging and I am sure I will visit Freddie Mac unveils new home loan options again!!

Rebek said...

Hey this blog is not about adjustable rate mortgages in missouri . Silly internet bringing me here :-) Funny I have been doing hours of research on adjustable rate mortgages in missouri and it brought me to your blog on Freddie Mac unveils new home loan options. The web plays funny games sometimes. Anyways, I was reading your blog Blogger and I think it is really cool. Keep up the great work.
If you do not mind I will snag your blog and put it in my favorites. I read a ton of stuff on here that interested me. Keep blogging away :-)

cmeltifa said...

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Rebek said...

What up Blogger! I just finished up a ten hour work day and decided to kick back and do some surfing. So I grabbed myself a drink and stumbled across your blog while doing some research on kansas adjustable rate mortgage loans for a upcoming project I am doing. Well even though Freddie Mac unveils new home loan options isn’t what I was looking for I really enjoyed reading your blog. Your doing a great job and please keep up the good work. Lots of people do not keep their blogs up to date :0) There are some very interesting view points stated here. Anyways I am going to grab the bull by the horns and continue to plug away at kansas adjustable rate mortgage loans . I have already bookmarked your blog. You many want to visit me at kansas adjustable rate mortgage loans . You never know you might see something you like! Again great job.

Rachel said...

I love your blog Blogger. How long has it been on-line? Reason I ask is I am doing a ton of work in the area of missouri adjustable rate mortgage loans and will probably end up starting a blog of my own. Funny how the internet brought me here when I was doing searches on missouri adjustable rate mortgage loans. Oh well, I am glad it did. Keep up the great blogging and I am sure I will visit Freddie Mac unveils new home loan options again!!

cmeltifa said...

Sad to say I just got back from a bowling tournament and decided to log in and do some websurfing. Blogger I love your blog. I had some very good laughs. I am doing a paper on one year adjustable rate mortgages and have been downloading information for the last hour. I don’t know how I came across Freddie Mac unveils new home loan options but I am glad I did. It has set me back a little because I have spent the last hour reading your archives. If you don’t mind I would like to add you to my favorites so I can back again and read some more. Well I need to get back to one year adjustable rate mortgages . I am almost finished with it. Great job.
p.s some very good points on your blog

hplauze said...

I love your blog Blogger. How long has it been on-line? Reason I ask is I am doing a ton of work in the area of hybrid adjustable rate mortgages and will probably end up starting a blog of my own. Funny how the internet brought me here when I was doing searches on hybrid adjustable rate mortgages . Oh well, I am glad it did. Keep up the great blogging and I am sure I will visit Freddie Mac unveils new home loan options again!!

minnesota adjustable rate mortgages said...

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P.S I will add you to my favorites so I can come back and visit later
P.S.S If you want to bookmark my site I am at missouri adjustable rate mortgage loans. You never know you may find some good deals!

washington 2 28 adjustable rate mortgages said...

Well this blog certainly is not about washington 2 28 adjustable rate mortgages . What the heck! I guess the internet can play some tricks on us sometimes. I have been on-line for two hours
researching washington 2 28 adjustable rate mortgages and came tumbling across your blog. I LOVE IT! I needed a break from washington 2 28 adjustable rate mortgages anyways :-) If you don't mind I want to add your
blog to my favorites list so I can come back later on and read some more stuff. Well I guess I should get back to researching washington 2 28 adjustable rate mortgages .
Even though my search is not on Freddie Mac unveils new home loan options I am glad I came across your blog. Keep blogging away!

adjustable rate mortgages in missouri said...

I love your blog Blogger. How long has it been on-line? Reason I ask is I am doing a ton of work in the area of missouri adjustable rate mortgage loans and will probably end up starting a blog of my own. Funny how the internet brought me here when I was doing searches on missouri adjustable rate mortgage loans. Oh well, I am glad it did. Keep up the great blogging and I am sure I will visit Freddie Mac unveils new home loan options again!!

one year adjustable rate mortgages said...

Sad to say I just got back from a bowling tournament and decided to log in and do some websurfing. Blogger I love your blog. I had some very good laughs. I am doing a paper on atlanta adjustable rate mortgages and have been downloading information for the last hour. I don’t know how I came across Freddie Mac unveils new home loan options but I am glad I did. It has set me back a little because I have spent the last hour reading your archives. If you don’t mind I would like to add you to my favorites so I can back again and read some more. Well I need to get back to atlanta adjustable rate mortgages. I am almost finished with it. Great job.
p.s some very good points on your blog

adjustable rate mortgages in missouri said...

All I can say is WOW Blogger. The other half and I just got back from our friends house (well her friends house) and I needed a huge break. I am working on a project right now that is based on one year adjustable rate mortgages . I have literally been on-line for 2-3 hours doing research. Even though Freddie Mac unveils new home loan options really isn’t on the same page as one year adjustable rate mortgages I am certainly glad I came across your blog. There are a ton of great view points on this blog. Well I think I can here the kids screaming in the background. I put you in my internet favorites and I will certainly come back and visit. If you want to take a peek at my site you can find me here at one year adjustable rate mortgages . I update my site very frequently. Again, great job blogging and I will be back again soon!

minnesota adjustable rate mortgages said...

What up Blogger! I just finished up a ten hour work day and decided to kick back and do some surfing. So I grabbed myself a drink and stumbled across your blog while doing some research on one year adjustable rate mortgages for a upcoming project I am doing. Well even though Freddie Mac unveils new home loan options isn’t what I was looking for I really enjoyed reading your blog. Your doing a great job and please keep up the good work. Lots of people do not keep their blogs up to date :0) There are some very interesting view points stated here. Anyways I am going to grab the bull by the horns and continue to plug away at one year adjustable rate mortgages . I have already bookmarked your blog. You many want to visit me at one year adjustable rate mortgages . You never know you might see something you like! Again great job.

washington 2 28 adjustable rate mortgages said...

Well this blog certainly is not about atlanta adjustable rate mortgages. What the heck! I guess the internet can play some tricks on us sometimes. I have been on-line for two hours
researching atlanta adjustable rate mortgages and came tumbling across your blog. I LOVE IT! I needed a break from atlanta adjustable rate mortgages anyways :-) If you don't mind I want to add your
blog to my favorites list so I can come back later on and read some more stuff. Well I guess I should get back to researching atlanta adjustable rate mortgages.
Even though my search is not on Freddie Mac unveils new home loan options I am glad I came across your blog. Keep blogging away!

kansas adjustable rate mortgage loans said...

What up Blogger! I just finished up a ten hour work day and decided to kick back and do some surfing. So I grabbed myself a drink and stumbled across your blog while doing some research on missouri adjustable rate mortgage loans for a upcoming project I am doing. Well even though Freddie Mac unveils new home loan options isn’t what I was looking for I really enjoyed reading your blog. Your doing a great job and please keep up the good work. Lots of people do not keep their blogs up to date :0) There are some very interesting view points stated here. Anyways I am going to grab the bull by the horns and continue to plug away at missouri adjustable rate mortgage loans. I have already bookmarked your blog. You many want to visit me at missouri adjustable rate mortgage loans. You never know you might see something you like! Again great job.

one year adjustable rate mortgages said...

What up Blogger! I just finished up a ten hour work day and decided to kick back and do some surfing. So I grabbed myself a drink and stumbled across your blog while doing some research on one year adjustable rate mortgages for a upcoming project I am doing. Well even though Freddie Mac unveils new home loan options isn’t what I was looking for I really enjoyed reading your blog. Your doing a great job and please keep up the good work. Lots of people do not keep their blogs up to date :0) There are some very interesting view points stated here. Anyways I am going to grab the bull by the horns and continue to plug away at one year adjustable rate mortgages . I have already bookmarked your blog. You many want to visit me at one year adjustable rate mortgages . You never know you might see something you like! Again great job.

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