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Freddie Mac
BorrowSmartSM Program

Get $1,250 or $2,500 toward your down payment or closing costs with the Freddie Mac BorrowSmartSM Program or income-based Grants for qualifying borrowers. 

Saving for a down payment is one of the biggest obstacles today’s first-time home buyers face. The Freddie Mac BorrowSmart Program helps to decrease those costs and make homeownership more accessible.

Grant Program Highlights

  • $2,500 for borrower(s) whose qualifying income is less than or equal to 50% of the county area median income (AMI)1, with a Freddie Mac income-based grant.
  • $1,250 for borrower(s) whose qualifying income is greater than 50% and less than or equal to 80% of the county AMI1, with the Freddie Mac BorrowSmartSM program.

BorrowSmart Down Payment Program Requirements

  • Primary residence purchase only
  • BorrowSmart grant requires pre-purchase counseling with a specific provider. The income-based grant may also require pre-purchase counseling. See your Loan Officer for details.

The Freddie Mac BorrowSmart Program can give you extra purchasing power in today’s busy market.

Check your eligibility and see how much down payment or closing cost money you can receive.

CHECK YOUR ELIGIBILITY

Freddie Mac BorrowSmartSM program is available in all states. Primary residence purchase transactions only. Pre-purchase counseling through Home Preservation Foundation is required is required under the BorrowSmart program. HUD-approved pre-purchase counseling may be required under the income-based grant program for borrowers with income at or below 50% of the county’s AMI.

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