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New Exclusive Financial Assistance Program Now Available

by cumembers Leave a Comment

One of the biggest challenges facing potential homebuyers in purchasing a home is saving for the down payment and closing costs. As rent and home prices increase, it can be difficult to save the money necessary for these expenses. However, a new program called Freddie Mac BorrowSmart℠ is now available to help members with their down payment or closing costs.

Freddie Mac BorrowSmart℠ is a program that offers qualified very-low-to-moderate income members in qualified areas with down payment and/or closing cost assistance if they participate in select homebuyer counseling. This offer is also available for manufactured homes, a benefit that a number of other assistance programs do not offer.

Program Features

  • Members can earn up to $1,500
  • Income and location qualifications apply
  • Homebuyer counseling required through approved provider which will incur a $99 fee
  • Other eligible sources of funds such as gifts allowed
  • Can be used in conjunction with other down payment assistance programs

Financial assistance is a great way to help with your down payment and/or closing costs. Talk with one of our loan officers today to learn more about eligibility requirements and how you can take advantage of this great program.

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Filed Under: For Borrowers, For Your Members Tagged With: BorrowSmart, Closing Cost Assistance, credit union mortgage, down payment, Down Payment Assistance, Freddie Mac

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