Freddie Mac BorrowSmart AccessSM

Get up to $3,000 in Down Payment / Closing Cost Assistance

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Empowering First-Time Buyers

Freddie Mac BorrowSmart AccessSM is designed to bridge the housing gap for historically underserved communities, helping to build generational wealth. This program empowers homebuyers by reducing the amount needed at closing, allowing them to retain more personal funds for home maintenance and emergencies.

Available in Select Areas

Eligible homebuyers in designated counties within these metropolitan areas can receive $3,000 in down payment assistance/closing cost assistance based on area median income and other eligibility criteria.

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  • Atlanta-Sandy Springs-Alpharetta, Georgia
  • Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin
  • Detroit-Warren-Dearborn, Michigan
  • El Paso, Texas
  • Houston-The Woodlands-Sugar Land, Texas
  • McAllen-Edinburg-Mission, Texas
  • Memphis, Tennessee-Mississippi-Arkansas
  • Miami-Fort Lauderdale-Pompano Beach, Florida
  • Philadelphia-Camden-Wilmington, Pennsylvania-New Jersey-Delaware-Maryland
  • St. Louis, Missouri-Illinois

Program Details

  • Available to borrowers who meet the program's income criteria: income must not exceed 140% of the area median income.
  • May be combined with other down payment assistance programs to provide you maximum support.
  • First-Time Buyer: At least one borrower must be a first-time homebuyer.
  • Down Payment: At least 3% down payment (which can be covered partially or entirely by the $3,000 assistance).
  • Property Requirements: 1- or 2-unit primary residence, owner-occupied.
  • Can be combined with gift funds for down payment and closing costs.
  • Receive homebuyer counseling to fully prepare you for sustainable homeownership.
  • The mortgage must meet the requirements for either the Freddie Mac HomeOne® or Standard Conventional Products.