A funding option for low- and moderate-income borrowers
Enhance your ability to originate Freddie Mac's Home Possible Mortgages.
Freddie Mac's Affordable Seconds is designed to help you meet the needs of borrowers who require flexible secondary financing options and sell affordable lending mortgage products that are supplemented by subsidized secondary financing. Affordable Seconds approved secondary financing must come from one of the following sources: any duly authorized authority or agency of the federal, state, local or municipal government, a nonprofit community or religious organization other than a credit union, the borrower's employer, or a regional Federal Home Loan Bank under one of its affordable housing programs.
|Eligible Mortgage Products||
|Maximum TLTV Ratios||
|Down Payment or Closing Costs||
|Single-Family Seller/Servicer Guide||
Download an Affordable Seconds fact sheet for more details.
Originating with Affordable Seconds helps you:
- Strengthen your community investment by leveraging public funds to originate more loans.
- Increase your Home Possible Mortgage originations for low- and moderate-income borrowers, including originating more Home Possible Mortgages.
- Reduce your processing costs for secondary financing programs.
- Support collaborations with public agencies and nonprofit organizations.
Benefits for Your Borrowers
Affordable Seconds helps your borrowers:
- Increase their homeownership opportunities with a flexible secondary financing option.
- Use various sources for a down payment, closing costs and financing costs, prepaids and rehabilitation costs.
For More Information
- Call your Freddie Mac representative.
- Print an Affordable Seconds fact sheet.
Visit The Learning Center for live and recorded web conferences, access to classroom-style workshops and self-study tools – all designed to help you stay competitive, serve more borrowers and make it easier to do business with us.
The information in this document is not a replacement or substitute for information found in the Single-Family Seller/Servicer Guide and/or the terms of your Master Agreement and/or Master Commitment.