PHH is happy to announce we have extended the Freddie Mac BorrowSmart program from March 31st to December 31st! Be sure and check out the high-level details below along with the more comprehensive guide in AllRegs and on our website.
Overview
- Applicants who meet program eligibility requirements will receive $1250 in down payment/closing cost assistance. *
- Must qualify for the Freddie Mac Home Possible® Product.
- Eligibility is based on AMI for borrowers whose qualifying income is greater than 50% and less than or equal to 80% of county area median income.
- Counseling must be completed by Homeownership Preservation Foundation (HPF) using a dedicated PHH number to qualify for the assistance.
- Can be used in conjunction with other DPA programs that meet Freddie Mac® guidelines.
If you have any questions or are interested in participating in the program, please contact your Correspondent Specialist, Sales Executive, or contact us via the support line at 1-800-929-4744.
Thank you for your continued business.
*Lender provides at closing and is reimbursed by PHH at the time of purchase.
Coming soon – PHH Mortgage is changing its name!
