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
Talk to a Loan OfficerProgram 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