Freddie Mac expanded home-ownership opportunities and access to credit Thursday for many Americans who do not have credit scores.

The mortgage giant automated the assessment of borrowers without credit scores if they have payment references, including records showing timely housing payments. Previously, lenders could manually underwrite mortgage loans to borrowers without credit scores.

Now, lenders can use automated assessments, enabling them to serve potential home-buyers more efficiently and with greater certainty that the loan will be purchased by Freddie Mac.

“We're committed to supporting responsible lending and improving access to credit for all borrowers, including first-time home buyers, low- and moderate-income buyers and under-served populations,” said David Lowman, executive vice president of Freddie Mac’s Single-Family Business. “It's important that we keep pace with the evolving needs of the U.S. market and help support sustainable home-ownership.”

Borrowers without credit scores will be eligible for purchase mortgages or no-cash-out refinances at one-unit owner-occupied loans starting in June.

Freddie Mac will use its Loan Product Advisor to evaluate loans based on the company’s credit requirements and provide feedback on the credit risk of each loan.

“By allowing lenders to more easily assess their overall underwriting risk, we encourage them to take advantage of our entire credit box to originate more loans in a safe and secure manner,” Lowman said.

If your credit is not perfect, give me a call today so we can assess which lender can assist you with a mortgage to purchase that new dream home!  Buying a home is made easy by giving me a call today at (803) 315-1940 or visiting my website at

I am a Real Estate Professional with EXIT Midlands Realty in Chapin, South Carolina. I have been assisting clients with purchasing and selling their homes in the BlythewoodColumbiaIrmoLexington, Chapin and Newberry areas for years. Call me with any of your real estate needs or questions at 803-315-1940, or feel free to email me at

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Phone: 803-315-1940
Dated: August 1st 2017
Views: 749
About Melissa: When it comes to customer service in today's fast paced world, let’s face it, our world has become...

1 Response

  1. Irene Davis Hudson

    I would like to know if I qualify for home owner first time buyer. Please give me a call @ 803-661-8835 Irene Hudson


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