Fannie Mae & Freddie Mac Loan Programs

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• Low Down Payment – Only 3% down required
• Flexible funding sources – Down payment can come from savings, gifts, or grants
• Income Flexibility – Accepts income from non-occupant co-borrowers (like parents), roommates, or household members
• Lower Mortgage Insurance (MI) – Cheaper than other low-down-payment options; can be removed once loan balance reaches 80% LTV
• Competitive Interest Rates – As low or lower than similar loan options
• Credit Requirements – Minimum 620 credit score (or no minimum with manual underwriting)
• Homeownership Education – Simple online course to help prepare buyers
  
  

• Get $4,500 or $1,500 in down payment/closing cost assistance
• Includes free homeownership education
• Possible title insurance, appraisal, and home warranty reimbursements
• Eligibility:
  • First-time homebuyer
  • Must live in specific census tracts (but can purchase anywhere)
  • Income must be 140% or less of the area median income
    
    

• Finance both the home purchase & renovations in a single loan
• Covers repairs, remodeling, and additions (e.g., new kitchens, roofs, in-law suites)
• Flexible contractor options (pending lender review)
• Affordable financing – Lower rates than credit cards or personal loans
• Simple process – Funds can be available before work starts (subject to approval)
  
  

• Use 12 or 24 months of business or personal bank statements instead of tax returns
• Ideal for self-employed borrowers, freelancers, and gig workers.

• Qualify using a P&L statement from a CPA or tax preparer
• No tax returns or bank statements required
• Great for small business owners & seasonal earners
  
  

• Qualify using 1099 forms instead of tax returns
• Ideal for realtors, consultants, and sales professionals
  
  

• Qualify using W2 forms & Verification of Employment (VOE)
• Great for job changers & stable wage earners
  
  

• Based on credit history, assets, and ability to repay
• Ideal for self-employed & those with complex income
  
  

• Available for borrowers with an Individual Taxpayer Identification Number (ITIN)
• Can be used for primary homes, second homes, and investment properties
• Great for immigrant families & foreign nationals

These programs provide a range of flexible solutions for homebuyers, and self-employed individuals. 

Contact StrongHold Lending to find the right mortgage for you!