Freddie Mac Conventional Loans in Colorado: HomeOne and More

Conventional loans backed by Freddie Mac

Freddie Mac is the other half of conventional lending. Its rules are close to Fannie Mae's, with a few differences that can matter, such as HomeOne for first-time buyers.

Who it fits

It fits anyone a Fannie Mae loan would fit, including buyers with solid credit purchasing a primary home, second home or rental. HomeOne adds a clear path for first-time buyers whose income is too high for Home Possible or HomeReady.

Many homes here sit on acreage with a private well and septic. They work when they meet Freddie Mac’s standards. For a home that needs work, Freddie Mac’s CHOICERenovation includes the repairs in the same loan.

HomeOne vs Home Possible

Feature	HomeOne	Home Possible
Minimum down	3%	3%
Income limit	None	80% of area median
First-time buyer required	Yes, at least one buyer	No
Mortgage insurance	Standard	Reduced

Compare three down payments on the same home: the lowest payment, the least cash at closing and the option between them.

Payment, cash and the middle ground. Turn on JavaScript to change the numbers.

The middle groundOption 2

It needs $29,898 less cash than Option 3 and pays $215 less a month than Option 1.

Payment against cash

Up is a higher monthly payment; right is more cash at closing.

Option 3 has the lowest payment and Option 1 needs the least cash. Option 2 sits between them on both, which is what your Mortgage Plan marks as Balanced. None of these is a pick; it depends on your cash and your budget.

At a glance

	Option 1	Option 2	Option 3
Down payment	$9,000	$30,000	$60,000
Monthly payment	$2,287	$2,072	$1,778
Mortgage insurance	$133 a month	$79 a month	None
Cash to close	$15,422	$36,344	$66,242
Tag	Least cash	Balanced	Lowest payment

Conventional 30-year fixed loans with typical fees and prepaids. Mortgage insurance is estimated by down payment. Example rates, not offers.

Open it full size

Calculators and guides

Common questions

What is Freddie Mac HomeOne?

It is a 3% down conventional loan for first-time buyers with no income limit. At least one buyer must be a first-time buyer.

Why does Freddie Mac vs Fannie Mae matter to me?

Usually it does not. However, small differences in credit scoring, income rules or pricing can make one less expensive for a given buyer. We check both.

What is VantageScore 4.0?

It is a credit score model that Freddie Mac began accepting in 2026 alongside Classic FICO. It can help people with thin credit files.