Freddie Mac LPA opens doors that DU doesn't. HomeOne® delivers 97% LTV with no income limits for first-time buyers. HomePossible makes affordable housing work with 3% down. BFF funds it all — conforming, super conforming, and 1 FICO score eligible.
Program at a Glance
BFF's Freddie Mac offering covers standard conforming, super conforming (high balance), and two specialty affordable programs. All require LPA Accept/Eligible — manual underwriting is not permitted. The right program depends on the borrower's income level, first-time buyer status, and target LTV.
Freddie Mac offers distinct programs within its conventional umbrella. Know which one applies before pricing - each has different LTV, income, and borrower eligibility requirements.
⭐ Best for FTHB HomeOne® 97% No income limits · 3% down · FTHB only At least one borrower must be a first-time homebuyer No area median income (AMI) limits 1-unit primary residence only Conforming loan amounts only (not super conforming) Homebuyer education required for 1-FICO scenarios Down payment may be from gift - no min borrower contribution Affordable Housing HomePossible® 97% Income limits apply · 3% down · All eligible borrowers All borrowers on the loan must be at or below 80% AMI FTHB not required - any eligible borrower qualifies 1-4 unit properties eligible (owner-occupied) Super conforming allowed (unlike HomeOne) Homebuyer education required for first-time homebuyers Non-occupant co-borrower allowed (1-unit only) Standard Conventional Standard Conforming 95% No income limits · No FTHB req · All properties No income limits · No first-time buyer requirement 1-4 unit properties · Primary, second home, investment Standard and super conforming (high balance) 95% max LTV on 1-unit SFR/PUD/condo 2-unit: 85% · 3-4 unit: 80% · Second home: 90% Investment property: 85% (1-unit) · 75% (2-4 unit) HomeOne vs. HomePossible at a Glance: Both offer 97% LTV and 3% down. The difference is who qualifies. HomeOne has no income limit but requires at least one first-time homebuyer. HomePossible has income limits (≤80% AMI) but works for any borrower, not just first-timers. Run both through LPA when income is under the AMI threshold - HomePossible may return a better finding.
Standard Freddie Mac LTV limits vary by property type, number of units, and occupancy. HomeOne and HomePossible have specific LTV rules noted above.
| Property Type | Purchase | R&T Refi | Cash-Out |
|---|---|---|---|
| 1-Unit SFR / PUD / Condo (Primary) | 95% | 95% | 80% |
| 2-Unit Primary | 85% | 85% | 75% |
| 3-4 Unit Primary | 80% | 80% | 75% |
| Second Home (1-unit) | 90% | 90% | 75% |
| Investment (1-unit) | 85% | 85% | 75% |
| Investment (2-4 unit) | 75% | 75% | 70% |
| HomeOne® (1-unit Primary, FTHB) | 97% | 97% | N/A |
| HomePossible® (1-unit Primary, ≤80% AMI) | 97% | 97% | N/A |
Key parameters from the BFF Freddie Mac Matrix. Download the PDF for complete guidelines before pricing any Freddie Mac scenario.
| Parameter | Requirement |
|---|---|
| Min FICO | 620 (1 FICO score eligible per LPA findings) |
| Min Loan Amount | $75,000 |
| Max Loan - Conforming | $806,500 (1-unit standard county - verify current FHFA limits) |
| Max Loan - Super Conforming | Up to county high-balance limit (varies by county) |
| AUS Required | LPA Accept/Eligible - DU not accepted - manual underwriting not permitted |
| Max LTV (Standard, 1-unit Primary) | 95% purchase · 95% R&T · 80% cash-out |
| Max LTV (HomeOne®) | 97% · FTHB · 1-unit primary · Conforming only |
| Max LTV (HomePossible®) | 97% · Income ≤80% AMI · 1-4 unit · Standard & super conforming |
| Temporary Buydowns | 2-1 and 1-0 allowed (purchase only, primary and second home) |
| Non-Permanent Resident Aliens | Eligible with valid visa or EAD · Must have U.S. credit history |
| DACA Borrowers | Check current Freddie Mac guidelines · BFF follows FHLMC policy |
| 720+ FICO | Required when borrower has 7 or more financed properties |
| Condo Project Advisor | FHLMC Condo Project Advisor (CPM/streamlined) not allowed (BFF overlay) · Condo must be full review or BFF-approved warrantable |
| MCC | Not permitted (BFF overlay) |
| Leasehold Estates | Not permitted (BFF overlay) |
| Min Condo SF | 400 sq ft minimum (BFF overlay) |
| Manual UW | Not allowed - LPA Accept/Eligible required for all Freddie Mac files at BFF |
| Note | Conforming loan limits are set annually by FHFA and vary by county and unit count. Always verify current limits before pricing. BFF's super conforming guidelines may differ from standard conforming - check the overlay matrix. |
Both programs share most core guidelines but differ in key areas. Run both through their respective AUS systems and use whichever returns the better finding for the specific borrower.
| Freddie Mac (LPA) | Fannie Mae (DU) | |
|---|---|---|
| AUS System | LPA (Loan Product Advisor) | DU (Desktop Underwriter) |
| Standard Max LTV | 95% | 97% |
| FTHB 97% Program | HomeOne® (no income limit) | HomeReady (income limits apply) |
| Affordable Program | HomePossible (≤80% AMI) | HomeReady (≤80% AMI) |
| Min FICO | 620 | 620 |
| 1 FICO Score | Eligible per LPA | Eligible per DU |
| Min Loan Amount | $75,000 | $75,000 |
| High Balance | Available (super conforming) | Available (high balance) |
| Manual Underwriting | Not allowed at BFF | Not allowed at BFF |
| Temp Buydowns | 2-1 & 1-0 (purchase only) | 2-1 & 1-0 (purchase only) |
| Condo Approval | Full review · CPM not allowed | Full review · PERS not allowed |
HomeOne® delivers 97% LTV / 3% down with no income cap. The only 97% LTV product that doesn't restrict high-income FTHB borrowers in expensive markets.
HomePossible® allows 97% LTV for any borrower — not just first-timers — when income is at or below 80% of AMI. Reduced MI rates may also apply.
Self-employed borrowers, multiple financed properties, non-traditional income structures — LPA sometimes returns a better finding than DU. Run both when in doubt.
High-balance (super conforming) purchases in high-cost counties. Freddie Mac super conforming through LPA provides an alternative to Fannie Mae for the same loan size.
Borrowers with only one scoreable tradeline across all bureaus. LPA accepts single-score files — the one score is used as the representative credit score.
Borrowers with a valid U.S. visa or EAD with documented U.S. credit history. Eligible for standard Freddie Mac programs per current FHLMC guidelines.
BFF requires LPA (Loan Product Advisor) Accept/Eligible for all Freddie Mac loans. DU (Desktop Underwriter, Fannie Mae's system) is not accepted for Freddie Mac deliveries. Manual underwriting is not permitted regardless of the LPA finding — if LPA returns a Refer, the file cannot be manually underwritten through BFF's Freddie program. Run it through DU to see if it qualifies as a Fannie Mae loan.
HomeOne® has no income limits but requires at least one first-time homebuyer. It's available on 1-unit primary residence conforming loans only. HomePossible® has income limits (all borrowers must be at or below 80% of AMI) but does not require a first-time homebuyer — any eligible borrower qualifies. HomePossible also allows 1–4 unit properties and super conforming loan amounts. Both offer 97% LTV and 3% down.
Yes. BFF's Freddie Mac program allows borrowers with only one FICO score to qualify per LPA findings. This occurs when the borrower has only one scoreable tradeline across the three major credit bureaus. The single score is used as the representative credit score for the transaction.
The clearest scenario is FTHB borrowers with high income: HomeOne® has no income limit, whereas Fannie Mae's HomeReady does. For other scenarios, the AUS finding often decides — LPA sometimes approves files that DU declines, particularly for self-employed borrowers, complex income structures, or borderline DTI scenarios. Run both systems and use whichever returns the better finding. BFF accepts either agency delivery.
Yes, with restrictions. BFF allows 2-1 and 1-0 temporary buydowns on Freddie Mac purchase transactions only — primary residence and second home. Temporary buydowns are not available on refinance transactions. The borrower must qualify at the note rate (the full, unbought-down rate), not the temporary reduced rate.
BFF Freddie Mac Matrix — Rev. Jan 2026
There's no universal rule for which AUS gives a better result. For borderline files, run LPA for Freddie and DU for Fannie. Use whichever returns Accept/Eligible or Approve/Eligible. BFF accepts either.
Check current turn times before locking. Agency conventional loans generally move faster than Non-QM.
Price it in the Quick Pricer, download the matrix, or call your AE. We Deliver.
