Introduced in 2018, Freddie Mac’s HomeOne® mortgage loan is designed to make financing more accessible for prospective home buyers as well as refinance.
Another thing that is truly unique is it allows ‘Border Income’. This is rent received from a roommate. You can actually use rent from a roommate to qualify.”
— Garrick Werdmuller, President/CEO Fresh Home Loan
With so many changes in the housing market and interest rate environment in the past 12 months, we have seen a lot of opportunities arise for first time home buyers. Many homes are sitting on the market longer and there is less competition. Introduced in 2018, Freddie Mac’s HomeOne® mortgage loan is designed to make financing more accessible for prospective home buyers as well as homeowners looking to refinance. Now this is a great program because it also for just 3% down on conventional financing and there are no income or geographical restrictions.
According to Freddie Mac:
“Available to qualified first-time homebuyers for a low down payment of just 3%, the Freddie Mac HomeOne® mortgage is a low down payment option that serves the needs of many first-time homebuyers, along with no cash-out refinance borrowers.
This mortgage solution allows you to help more first-time homebuyers achieve the milestone of homeownership, regardless of their income levels or geographic location. HomeOne® reflects our dedication to responsible lending, sustainable homeownership and improving access to credit.
With more flexibility for maximum financing, HomeOne® provides expanded opportunity and greater certainty to bring more borrowers to the closing table.”
Garrick Werdmuller, President and CEO of Fresh Home Loan Inc goes on to explain “A great thing about this loan program form Bay Area Home Buyers is there are no income restrictions. Another thing that is truly unique is it allows ‘Border Income’. This is rent received from a roommate. You can actually use rent from a roommate to qualify. With most home financing options, this is not allowed.
Program highlights include:
• 3% Down
• Fixed Rate Mortgage
• Eligible property types include a single-family home, townhome, or condominium (NO Manufactured Homes)
• Rent you receive from a roommate or border can count toward up to 30% of your income used to qualify for this loan
• Allows both Affordable Seconds® and other secondary financing.
Some things to note that aren’t allowed:
• Adjustable-rate mortgages
• Super conforming loans
• Cash-out refinance loans (Raster term refi OK!)
• Second homes and investment properties
For more information you visit Freddie Mac:
To apply or get questions answered about the product visit Fresh Home Loan Inc. Home Purchase Page:
you may also contact Garrick Werdmuller at:
Garrick Werdmuller | President CEO
Fresh Home Loan Inc
All loan approvals are conditional and not guaranteed and subject to lender review of all information. Loan is conditionally approved when lender has issued approval in writing, but until all conditions are met, loan cannot be funded. Specified rates and [products may not be available to all borrowers. Rates subject to change according to market conditions and agreed upon lock times set by borrower. Fresh Home Loan Inc. is an Equal Opportunity Mortgage Broker in California. This licensee is performing acts for which a real estate license is required. Fresh Home Loan, Inc. is licensed by the California Department of Real Estate #02137513 NMLS # 2124104