Freddie Mac
BorrowSmart®

Up to $1,500 towards down
payment or closing costs*

Pennymac offers the Freddie Mac BorrowSmart® program which provides assistance up to $1,500 for income-qualified borrowers to be used towards the down payment or closing costs required to finance a home

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Check your eligibility

Enter the address of where you're looking to buy. If you're not sure yet, enter your current address.

Your Combined Annual Income

What is the combined annual income of all borrowers?

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One more question

Are you planning to buy a manufactured home?

Congratulations! You're eligible.

Based on the information you provided, you should qualify for toward down payment for closing costs.

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You are not eligible for this program

Based on your combined household income and where you are looking to buy, you do not qualify for this program.

However, there could be other special conditions that apply to your situation where this program is still possible.

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Program Benefits

Use the funds to cover your down payment on eligible programs, which can offer minimum down payment as low as 3%

And if you've already saved up to cover your down payment and closing costs, this additional assistance can help re-establish your cash reserves and savings for home maintenance and emergencies after your home purchase closes

BorrowSmart Down Payment Program Requirements

Primary residence purchase only
All occupant borrowers must complete pre-purchase counseling with the Homeownership Preservation Foundation (HPF)*
Temporary interest rate buydowns are inegligible

Contact a Pennymac loan expert today to learn more
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