Mortgage lender and servicer NewRez on Monday launched a special purpose credit program through Freddie Mac that will provide $3,000 or more in closing cost assistance to qualifying first-time homebuyers.

Freddie Mac’s BorrowSmart Access program will be available to NewRez borrowers through Caliber Home Loans‘ national network of branches.

The program offers $3,000 or more in closing cost assistance if borrowers in select metropolitan areas meet a minimum 3% downpayment, complete a one-on-one homeownership counseling, and earn less than or equal to 140% of the area median income (AMI).

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