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Wells Fargo Freddie Mac 100
Wells Fargo Home Mortgage
www.wellsfargo.com/mortgage

Program Overview

Wells Fargo Freddie Mac 100 is a program for homebuyers with good credit. Homebuyers are provided with the ability to purchase a home even though they don't have, or wish to use, 3% or more of their own funds to invest in the transaction. All 50 states and the District of Columbia are eligible.

Who is eligible for this program?

The minimum credit score (FICO) requirement is a credit risk class of A1 or A2. Non-traditional credit is not allowed. There are no borrower income limits. The minimum borrower investment required is 3% of the borrower's own funds or gifts which are generally used for the payment of closing costs or prepaids. No down payment is required unless it is needed in order to meet the minimum borrower investment of 3% in the transaction (closing costs/prepaids amount to less than 3%). Two months of cash reserves are required. Funds can be used for home purchases only. Is this program for first time buyers only? Yes

Property Eligibility Requirements

All 50 states and the District of Columbia are eligible. Allowable property types: Single family homes, condos/PUDs.

Benefit Details

Benefit: Program benefits are increased buying power for homebuyers with good credit to enable them to purchase a home even if they don't have, or don't wish to use, 3% of their own funds to invest in the transaction. Loan Term: 15, 20 and 30 years Homebuyer Counseling / Education Required: No Owner Occupancy Required: Yes Other Program Comments: Occupany requirements are owner-occupied, primary only. Non-occupant co-borrowers are not allowed.

Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on this site. Some inaccuracies may exist. For verification contact a certified REALTOR member or a participating Lender.