$2,500 to you, from your friends Fannie + Freddie.

If you’re ready to make moves on a home, you might just be in luck. Fannie Mae and Freddie Mac have announced some big news: they’re giving $2,500 in credit to eligible HomeReady and HomePossible borrowers. This benefit applies to very low-income purchase borrowers (but don’t feel weird about that language – it’s based on your qualifying income being less or equal to 50% of the area median income of the house you’re wanting to buy. Not sure? Take a peek at your area on this map.)

If you qualify, the $2,500 will be provided at closing and can be used toward your down payment or closing costs, which can get expensive. This credit will be available for closings on or before February 21st, 2025, so make sure to ask your mortgage lender if you think you qualify. Don’t have one, you say? Let us make the intro – connect with one of our expert Mortgage Loan Officers now.

If you’re about to take the leap into first-time homeownership, we have plenty of resources to support this big financial step. Take a look at our Guide to Homebuying, learn about down payment options, and reach out to a Mortgage Loan Officer to get the ball rolling. You’ve got this!

*Borrowers must have a qualifying income of less than or equal to 50% of the area median income (AMI) of the property’s location. To be provided at closing and can be used toward down payment and/or closing costs. Fixed rate products only. Effective for loans funded between March 1, 2025 and on or before February 21st, 2025.