Equity Resources, Inc. proudly offers the Freddie Mac BorrowSmart® Program, helping to make homeownership more affordable for eligible buyers!
We have a new option for buyers struggling to save for a down payment! The Freddie Mac BorrowSmart® program is designed for low to moderate income borrowers and offers up to $1,500 in down payment and/or closing cost assistance, based on eligibility criteria.
The great news is that the funds are not in the form of a loan, so the buyer won’t have to worry about paying it back.
To qualify, buyers need a credit score of 580 or higher and to help prepare them for owning a home, they must complete homebuyer counseling. This program only applies to primary residences. Condos, planned unit development (PUDs), and manufactured homes may be eligible. The buyer’s income determines the level of assistance they may receive.
Reach out for more information!
This is not a commitment to lend. Program terms and conditions are subject to change without notice. Final approval is subject to credit review and eligibility.