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Newly Built Home MortgagesExpanded opportunities to finance newly constructed homes for your borrowers

Give your borrowers more opportunities to purchase new homes with our Newly Built Home Mortgages for site-built and manufactured homes – a component of our Mortgages for Newly Constructed Homes offering. Newly Built Home Mortgages offer greater flexibility, including permitting 18 months between the date of the earliest credit, capacity or collateral document and the settlement date – allowing for longer construction times – and other new opportunities.

With this offering you can enhance your niche-marketing opportunities when you process Newly Built Home Mortgages as Home Possible® or Initial Interest® Mortgages. Plus, you can process these loans using Loan Prospector® and profitably sell through our web-based selling system – giving you more reasons to make this offering part of your standard set of products.

Product Features

Feature	Description
Property Type	New 1- to 4-unit site-built homes New 1-unit manufactured homes Existing site-built or manufactured homes are not eligible Primary residence Investment property Second homes
Eligible Mortgage Products	15-, 20- and 30-year fixed-rate mortgages Most ARMs eligible for sale to Freddie Mac 5- and 7-year balloon/reset mortgages (non-seasoned) Home Possible Mortgages (Site built only) (non-seasoned) Initial Interest® Mortgages (Site built only) (non-seasoned)
Transaction Type	Purchase only
Maximum LTV Ratios (without secondary financing)	Values used to determine LTV, TLTV, and HTLTV for Newly Built Home Mortgages are calculated according to the requirements in Section K33.12 of the Single-Family Seller/Servicer Guide.
Underwriting	Loan Prospector Mortgages Non-Loan Prospector Mortgages Minimum Indicator Score of 620 unless otherwise specified in the Guide All mortgages must meet the risk class and/or minimum Indicator Score requirements in Exhibit 25A, where applicable Maximum debt-to-income ratio of 45 percent for manually underwritten mortgages
Execution Options	Servicing-released Cash Servicing-retained Cash Fixed-rate Guarantor WAC ARM Guarantor Mortgages for Newly Constructed Homes, with a Settlement Date more 12 months after the Effective Date of Permanent Financing are not eligible for sale under MultiLender Swap
Delivery Fees	See Guide Exhibit 19 for details on applicable delivery fees.
Special Delivery Requirements	Special characteristics codes must be delivered on Form 11 or 13SF as applicable: see Guide Section 17.38.1 D49 – Newly Built Home Mortgages - Site-built D50 – Newly Built Home Mortgages - Manufactured Home
Single-Family Seller/Servicer Guide	Find complete details on requirements for Mortgages for Newly Constructed Homes in Guide Chapter K33.

Download a Newly Built Home Mortgages factsheet for more details.

Lender Benefits

• Expanded options to drive more loan volume with Newly Built Home Mortgages available through the Single-Family Seller/Servicer Guide.
• New flexibility that matches your borrowers' needs. You now have 18 months to process, underwrite, document, allow for construction and sell all Newly Built Home Mortgages – allowing for longer construction times to streamline the loan origination process for you and your borrowers.
• Enhanced niche-marketing opportunities to meet your borrowers' needs when you process Home Possible Mortgages and Initial Interest Mortgages as Newly Built Home Mortgages (Site-built only).

Benefits for Your Borrowers

• Mortgage options that meet your borrower's needs. Provide permanent financing for low down payment mortgages and lower initial payments when you combine the advantages of Home Possible and Initial Interest Mortgages with Newly Built Home Mortgages (Site-built only), and other Freddie Mac products.
• A more flexible, streamlined loan origination process for your borrowers purchasing newly built homes.

Get More Information

• Call your Freddie Mac representative
• Download a Newly Built Home Mortgages factsheet

Training Opportunities

Visit The Learning Center for live and recorded web conferences, access to classroom-style workshops and self-study tools – all designed to help you stay competitive, serve more borrowers and make it easier to do business with us.

The information in this document is not a replacement or substitute for information found in the Single-Family Seller/Servicer Guide and/or the terms of your Master Agreement and/or Master Commitment.