Freddie Mac BorrowSmart® Program
This website is “Freddie Mac confidential information” as described in and subject to the provisions of Guide Section 1201.8(a). It must not be disclosed or distributed to external third parties.
The Freddie Mac BorrowSmart® program provides assistance for income-qualified borrowers to be used towards the down payment or closing costs required to finance a home. BorrowSmart® is available in all 50 states and the District of Columbia.
Effective June 30, 2022, the program will provide additional assistance within certain geographic areas of the Core-based Statistical Areas (CBSAs) listed below, as identified in the Freddie Mac BorrowSmart® Income and Property Eligibility Tool.
Core-based Statistical Areas (CBSAs):
- Detroit (Detroit-Warren-Dearborn)
- Chicago (Chicago-Naperville-Elgin)
- Baltimore (Baltimore-Columbia-Towson)
And additionally,
- The Commonwealth of Puerto Rico
To identify whether a given property is located in a designated rural tract within a high needs area, lenders must use the Freddie Mac Home Possible Income & Property Eligibility Tool.