No Down Payment Mortgage Plus Freddie Mac’s New HomeOne Program!

Mahone Mortgage has a new investor that will do 100% financing. We have been waiting for this program to become available and we are super excited! Also, next month Freddie Mac will be rolling out the HomeOne Mortgage Program. This is a 3% down mortgage for first time home buyers. The program is similar to the Home Possible mortgage but without the income limits or geographic restrictions. Below are some highlights of both programs:

No Money Down 100% Financing Program

  • 80% first with 20% second.
  • Fixed rates and arms available.
  • 6 months PITI required.
  • Ratios can not be greater than 30/38.
  • Good to excellent credit required.
  • Do not have to be a first time home buyer

HomeOne

  • At least one borrower on the mortgage must be a first time home buyer.
  • Owner-occupied primary residences only.
  • One unit single family homes, townhouses, and condominiums are allowed. No manufactured homes allowed.

Give us a call at 434-293-5200 for more details or shoot me an email at pmahone@mahonemortgage.com.

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