Prosperity Home Mortgage, LLC products may not be available in all areas. All first mortgage products are provided by Prosperity Home Mortgage, LLC. Prosperity Home Mortgage, LLC may operate as Prosperity Home Mortgage, LLC dba Edina Realty Mortgage in Minnesota and Wisconsin. Following counseling through a HUD approved agency, eligible borrowers will receive either a $1,250 or $2,500 credit at closing based on qualifying income. Consult your mortgage consultant to review potential loan scenarios and financing options to determine the home loan that is right for you.ġ. Low down payment options may not be the best option for all borrowers. Freddie Mac BorrowSmartSM is not available in Alaska or Hawaii. Speak to a mortgage consultant for additional information. Borrower must occupy the property as their primary residence. Gifts and other down payment assistance programs may also be applied where eligibleĬontact your local Mortgage Consultant to see if the Freddie Mac BorrowSmart SM program is right for you.Credit is NOT a grant or second lien but a true lender credit.Conventional, conforming mortgage with less than 3% down (if credit is used toward the down payment).Eligible borrowers may receive $1,250 or $2,500 in credit towards down payment and/or closings costs 1.That’s why we offer Freddie Mac BorrowSmart SM, a loan program designed to help customers purchase a home with less money out of pocket.įeatures of the Freddie Mac BorrowSmart SM program: We understand that the expense of a down payment and closing costs can present a challenge for many would-be home buyers.
Freddie Mac BorrowSmart SM offers $1,250 or $2,500 in down payment assistance for eligible borrowers.
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