© Freddie Mac Single-Family Seller Servicer Guide
Financed Permanent Buydown Mortgages must have the following characteristics:
- The Mortgage must be an eligible fixed-rate, level payment Mortgage, or a 5/5,
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- 5/1, 7/1 or 10/1 ARM
- The Mortgage must not be an A-minus Mortgage
- The Mortgage must not be a Home Possible®
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- Mortgage
- The Mortgage must not be an Affordable Merit Rate®
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- Mortgage
- The Mortgage must not be an FHA Mortgage, a VA Mortgage, a Section 502 GRH Mortgage, or a Section 184 Native American Mortgage
- The Mortgage must not be a Freddie Mac HomeOneSM Mortgage
- The Mortgage must not be a Community Land Trust Mortgage
- The Mortgage must not be secured by property subject to income-based resale restrictions that terminate upon foreclosure (or expiration of any applicable redemption period) or recordation of a deed-in-lieu of foreclosure, where the property value must be determined in accordance with Section 4406.1(g)(ii)
- Temporary subsidy buydowns are not permitted
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| Related Guide Bulletins | Issue Date |
|---|---|
| Bulletin 2017-26 | November 15, 2017 |
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