CrossCountry Mortgage (CCM) announced that it is assisting aspiring first-time homebuyers with down payment assistance in previously neglected neighborhoods.
CCM is pleased to introduce Freddie Mac BorrowSmart AccessSM. Borrowers can get up to $3,000 in down payment and/or closing cost assistance under the program.
BorrowSmart Access is available to qualified first-time homebuyers in the following metros: Atlanta-Sandy Springs-Alpharetta, GA; Chicago-Naperville-Elgin, IL-IN-WI; Detroit-Warren-Dearborn, MI; El Paso, TX; Houston-The Woodlands-Sugar Land, TX; McAllen-Edinburg-Mission, TX; Memphis, TN-MS-AR; Miami-Fort Lauderdale-Pompano Beach, FL; Philadelphia-Camden-Wilmington, PA-NJ-DE-MD and St. Louis, MO-IL.
“In today’s competitive market, first-time homebuyers face many obstacles including trying to save for a down payment,” said Jenn Stracensky, Chief Operating Officer at CCM. “BorrowSmart Access supports our mission of making every mortgage feel like a win by giving homebuyers extra purchasing power and putting homeownership within reach especially in underrepresented communities.”
BorrowSmart Prerequisites for Access:
A minimum of one borrower must be a first-time home buyer.
1-2 unit primary residences only.
Borrowers must earn no more than 140% of the region median income (AMI).
Homebuyer counseling required.
The property must be in a qualified location and must meet all other Freddie Mac Guide standards.
BorrowSmart Access is one of the most recent offerings that demonstrate CCM’s dedication to getting borrowers into their first home. CCM Community Promise, which debuted in November, provides qualified borrowers in Chicago, Philadelphia, and Detroit with a $6,500 grant that can be utilized toward down payment and/or closing cost assistance.
CCM, with over 600 branches and a presence in all 50 states, is ready to educate borrowers on the many available solutions. Contact a CCM loan officer to determine your eligibility and how much down payment or closing cost money you can receive.
