Freddie Mac is taking away the 1% down payment option but we at Home Funding Group will still be offering this very attractive option for financing in Michigan.
This program is priced out with great rates as a 3% down program and then we credit back the buyer 2%. So in the end you have a conventional loan at current market rates with only 1% down.
I’ve put several buyers into this program on their purchases recently and they are thrilled. There are no income restrictions on this program either.