Lack of funds for a down payment is the reason many people give for not buying a home. But contrary to what some believe, the down payment doesn't need to be 20% or more of the purchase price. And for eligible homebuyers, financial help with the down payment is available.
Doing some research could really pay off. Where to start?
- Your lender or real estate professional
- One of the 13 Freddie Mac Borrower Help Centers across the country or the national call-in Borrower Help Network, all of which offer free counseling on buying and keeping a home
- A homebuying class or workshop offered by a not-for-profit housing organization
- The My Home by Freddie MacSM web site, where you'll find a wealth of information, resources, and tools
Read a new "Executive Perspectives" from VP of Single-Family Affordable Lending & Access to Credit Danny Gardner to learn more about down payments and down payment assistance programs.
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