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Freddie Mac to offer $2,500 credit through Home Possible, HFA Advantage mortgage products 

Freddie Mac will offer a $2,500 credit for very low-income purchase borrowers to help with down payment and closing costs amid elevated interest rates and low housing supply.

Effective March 1, the credit will be available for homebuyers earning 50% of area median income (AMI) or less through Freddie Mac’s Home Possible and Housing Finance Agency (HFA) Advantage mortgage products. 

The credit can be used for down payments, closing costs, escrow and mortgage insurance premiums.

“Today’s announcement is a vital lifeline for would-be homeowners, as studies show that down payment and details ⇒

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