Great News for very low-income homebuyers

Effective March 1, 2024, this credit will be available to very low-income borrowers who meet specific criteria and are earning 50% or less of the area median income while purchasing a home. These funds can be utilized for various purposes, including down payments, closing costs, escrow, and mortgage insurance premiums. The credit will be applicable across Freddie Mac's Home Possible® and HFA Advantage® mortgage products.

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