Freddie Mac
BorrowSmart®
Receive $1,250 towards your
down payment or closing costs*
Pennymac offers the Freddie Mac BorrowSmart® program, which provides $1,250 in assistance for income-qualified borrowers, to be used towards the down payment or closing costs required to finance a home.
Connect with a Loan Expert
Check your eligibility
Enter the address of a home you're looking to buy. If you're not sure yet, enter your current address to verify eligibility in your area.
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.
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.
Program Benefits
Use the funds towards your down payment, with options as low as 3%.
You may also apply the funds toward closing costs or to permanently buy down the note rate on the loan. Talk to a Pennymac Loan Expert to learn more.