Freddie Mac
Secondary Market Lender
Chartered by U.S. Congress in 1970, Freddie Mac was created to become a reliable source of mortgage financing across the country. Freddie Mac buys a portion of the loans that borrowers like you and I take out AFTER they close, pools and guarantees them, and then issues mortgage-backed securities that attract investment from the U.S. and around the world. This, in turn, frees up the capital of the direct mortgage lenders—thereby allowing them to make more loans to more eager homebuyers.
First Mortgage Programs Offered by Freddie Mac
Conventional High-Balance Purchase Loan
Best For: Large Loan Amounts, Lowest Rates, Easy Process
Conventional financing option above the conforming limit in designated high cost counties across the United States
Min. Credit Score
620
Min. Down Payment
5%
Max. Loan Amount
$816,500 - $1,149,825
Conventional High-Balance Rate-and-Term Refinance
Best For: Large Loan Amounts, Lowest Rates, Easy Process
Conventional refinancing above the conforming limit in high cost counties with flexible qualification for qualified homeowners.
Min. Credit Score
620
Min. Equity
5%
Max. Loan Amount
$816,500 - $1,149,825
Conventional Purchase Loan
Best For: Flexible Terms, Lowest Rates, Savvy Investors
Meet the most popular mortgage program. Flexible financing offering a wide range of attractive benefits to qualified homebuyers across the US.
Min. Credit Score
620
Min. Down Payment
5%
Max. Loan Amount
$766,550
Conventional High-Balance Cash-Out Refinance
Best For: Large Loan Amounts, Debt Consolidation, Cash-Out
Conventional cash-out refinancing allows for loans above the conforming in certain US high cost counties. An attractive alternative to a jumbo loan!
Min. Credit Score
620
Min. Equity
20%
Max. Loan Amount
$816,500 - $1,149,825
Up to 80% of Value Estimated Cash-Out Opportunity
Home Possible® Purchase Loan
Best For: First Time Homebuyers, Low Down Payments
Low down payment financing from Freddie Mac with discounted fees for creditworthy low and moderate income borrowers across the US.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$766,550
Conventional Rate-and-Term Refinance
Best For: Flexible Terms, Rate Reduction, Easy Process
Popular refinancing option for loan amounts under the conforming loan limit. Flexible qualification and attractive benefits to qualified homeowners.
Min. Credit Score
620
Min. Equity
5%
Max. Loan Amount
$766,550
Conventional Cash-Out Refinance
Best For: Flexible Terms, Rate Reduction, Easy Process
Popular cash-out refinancing option with flexible qualification guidelines for loan amounts under the conforming loan limit.
Min. Credit Score
620
Min. Equity
20%
Max. Loan Amount
$766,550
Up to 80% of Value Estimated Cash-Out Opportunity
HomeOne® Rate-and-Term Refinance
Best For: Limited Equity, Rate Reduction, Easy Process
HomeOne® from Freddie Mac allows for a 97% LTV refinance—so those with limited equity can refinance to a lower rate or different term.
Min. Credit Score
620
Min. Equity
3%
Max. Loan Amount
$766,550
CHOICERenovation® Purchase Loan
Best For: Savvy Investors, Home Renovations
Include for home improvements and repairs in your conventional loan this convenient and flexible program for renovations from Freddie Mac.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$766,550
CHOICERenovation® Refinance
Best For: Savvy Investors, Home Renovations
Refinance with funds for home improvements and repairs with this convenient and flexible program for renovations from Freddie Mac.
Min. Credit Score
620
Min. Equity
3%
Max. Loan Amount
$766,550
CHOICERenovation® High-Balance Purchase Loan
Best For: Large Loan Amounts, Home Renovations
Include for home improvements in with a conventional loan above the conforming loan limit using this convenient and flexible program for renovations.
Min. Credit Score
620
Min. Down Payment
5%
Max. Loan Amount
$816,500 - $1,149,825
CHOICERenovation® High-Balance Refinance
Best For: Large Loan Amounts, Home Renovations
Refinance above the conforming loan limits with funds for home improvements and repairs with this convenient and flexible renovation loan program.
Min. Credit Score
620
Min. Equity
5%
Max. Loan Amount
$816,500 - $1,149,825
HomeOne® Purchase Loan
Best For: First Time Homebuyers, Easy Process
A low down payment solution to help first time homebuyers with limited savings take advantage of the benefits of a conventional loan program.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$766,550
Refi Possible℠ Refinance
Best For: Rate Reduction, Easy Process
A simpler and more affordable way to refinance your existing home loan to a lower rate or shorter loan term.
Min. Credit Score
N/A
Min. Equity
3%
Max. Loan Amount
$766,550
Home Possible® Refinance
Best For: Low Credit Scores, Lowest Rates
Low equity refinancing from Freddie Mac with discounted fees for creditworthy low and moderate income borrowers across the US.
Min. Credit Score
620
Min. Equity
3%
Max. Loan Amount
$766,550
Home Possible® High-Balance Purchase Loan
Best For: First Time Homebuyers, Large Loan Amounts
Low down payment financing above the conforming loan limit with discounted fees for creditworthy low and moderate income borrowers across the US.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$816,500 - $1,149,825
Home Possible® High-Balance Refinance
Best For: Limited Equity, Large Loan Amounts, Easy Qualification
Low equity refinancing above the conforming loan limits from Freddie Mac with discounted fees for low and moderate income borrowers across the US.
Min. Credit Score
620
Min. Equity
3%
Max. Loan Amount
$816,500 - $1,149,825
See If You Qualify for Freddie Mac Loans
* ReviewMyMortgage.com Inc. is in no way affiliated with or endorsed by Freddie Mac or any of its subsidiaries. We are an educational resource website that compiles information on different financing institutions and the loan products they offer in the United States.
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