Does the borrower have to pay back the assistance?

  • The assistance the borrower receives with the Freddie Mac HFA Advantage loan is a gift and does not have to be repaid.
  • The assistance the borrower receives with the Fannie Mae HFA Preferred loan is a 7-year forgivable second mortgage, forgiven 1/84th each month, beginning the first full month after closing.  There is no forgiveness for partial months.
  • Please see the program summary, via the link at the bottom of the page, for more detailed information.

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