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April 18, 2016

Borrower Help Centers Guide the Path to Homeownership

Homeownership
Housing Headlines

The journey toward owning a home can seem long and winding, especially if you're a first-time homebuyer. A housing counselor can help you map a clear path and guide your way forward. Freddie Mac's Borrower Help Centers and Borrower Help Network offer the trustworthy, one-to-one help you may want.

Check out the short video on our web site: A housing counselor explains three ways in which counselors can support you in your quest.

Freddie Mac firmly believes in the value of housing counseling.

We support 13 regional Centers and a national call-in Network run by not-for-profit housing counseling agencies certified by the U.S. Department of Housing & Urban Development. These counselors offer pre-purchase counseling and financial management education to help you achieve sustainable homeownership, if that's your goal. All services are delivered for free – even the call to the Network is free. All counseling sessions are confidential.

Want hard proof that housing counseling works?

  • Research we conducted a few years ago found that, on average, pre-purchase counseling may lower the risk of becoming seriously delinquent (90 days or more past due on mortgage payments) as much as 34%.
  • A 2014 Federal Reserve Bank of Philadelphia report also revealed big benefits. Completing a pre-purchase workshop helped boost credit scores an average of 8.5 points. Add a workshop and individual counseling and credit scores jumped a total of more than 16 points on average.

Homebuyer education is a prerequisite for our Home Possible AdvantageSM mortgage product, which allows for a down payment as low as 3%.

Find the Freddie Mac Borrower Help Center near you or call the Borrower Help Network at (877) 300-4179.

For lots more information and resources, visit My Home by Freddie MacSM.

Follow this series just in time for the spring homebuying season.

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