What Types of Mortgage Products Does Freddie Mac Offer?

If you are asking what types of mortgage products does Freddie Mac offer, the answer is broader than most homebuyers expect. This guide walks through Freddie Mac’s published single-family product lineup — from fixed-rate mortgages to renovation and refinance options — and explains how those products reach borrowers here in Colorado Springs.

What types of mortgage products does Freddie Mac offer?

Freddie Mac describes its mission as offering the right mortgage solution for every type of borrower, with products that address virtually every lending situation.

The lineup spans fixed-rate mortgages, adjustable-rate mortgages, low down payment purchase loans, renovation financing, refinance products and mortgages for specific property types like condominiums and manufactured homes.

Category	Freddie Mac products
Core loan structures	Fixed-rate mortgages; SOFR-indexed ARMs
Low down payment / affordable	Home Possible; HomeOne; Affordable Seconds; HFA Advantage
Renovation and energy	CHOICERenovation; CHOICEReno eXPress; GreenCHOICE; Construction to Permanent
Refinance	No cash-out refinance; cash-out refinance; Refi Possible
Specialized	VA mortgages; super conforming; Section 184; HeritageOne; Community Land Trust; investment property

With the map in place, it helps to understand how these loans actually reach a borrower.

How do Freddie Mac loans reach borrowers?

Freddie Mac does not sit across the closing table from homebuyers. Lenders originate home loans, and then sell eligible mortgages to Freddie Mac — a process often described as the secondary mortgage market.

Selling mortgages this way lets lenders keep lending, and Freddie Mac notes that its higher loan limits in designated high-cost areas exist specifically to provide liquidity to the mortgage market while lowering financing costs for borrowers there.

Borrowers often search Freddie Mac and Fannie Mae together; this article sticks to Freddie Mac’s own published product list. Next, the core loan structures.

Fixed-rate and adjustable-rate mortgages

Fixed-rate mortgages

Freddie Mac calls the fixed-rate mortgage a cornerstone of U.S. home financing and purchases 15-, 20- and 30-year fixed-rate mortgage offerings, where the interest rate stays fixed for the life of the loan.

Fixed-rate mortgages are used mostly for 1- to 4-unit primary residences, condominiums, second homes, manufactured homes and investment properties — which covers most single-family homes in the Pikes Peak region.

SOFR-indexed adjustable-rate mortgages

An adjustable-rate mortgage sold to Freddie Mac uses an index based on a compounded average of SOFR. Eligibility, underwriting and delivery rules are published by Freddie Mac for lenders.

Seller-owned converted and modified mortgages

Freddie Mac also buys seller-owned converted mortgages, which let borrowers convert an ARM to the security of a fixed-rate mortgage when interest rates rise, and seller-owned modified mortgages, which meet borrower needs without another closing.

Beyond loan structure, Freddie Mac’s affordable lending menu targets who can qualify.

Low down payment and affordable lending products

Home Possible

Home Possible is built for very low- to moderate-income borrowers, pairing a low down payment requirement with credit flexibilities and the ease of conventional loans.

HomeOne

HomeOne serves qualified first-time homebuyers with a low down payment, regardless of income level or geographic location, and also serves no cash-out refinance borrowers. If you are buying a first home in Colorado Springs, our first-time homebuyer resources cover how these options fit together.

Affordable Seconds and HFA Advantage

Affordable Seconds provide subsidized secondary financing from a government authority, nonprofit, employer or Federal Home Loan Bank under an affordable housing program — a structure many down payment assistance programs use.

HFA Advantage is a conventional mortgage product available exclusively through housing finance agencies, which in this state means asking your loan officer how it pairs with Colorado Housing and Finance Authority (CHFA) offerings.

Affordability also extends to renovation lending.

Renovation, construction and energy products

CHOICERenovation and CHOICEReno eXPress

CHOICERenovation lets borrowers use loan proceeds to repair, restore, rehabilitate or renovate a home, and renovation mortgages can be combined with other Freddie Mac products, including low down payment mortgages. CHOICEReno eXPress is a streamlined version for smaller-scale renovations.

GreenCHOICE and construction to permanent

GreenCHOICE mortgages finance energy-efficient homes and improvements, on the logic that lower utility costs help preserve affordability over time. Construction to Permanent mortgages cover purchase transactions plus no cash-out and cash-out refinances on site-built homes.

Property type drives another whole branch of the lineup.

Products for specific property types

Freddie Mac purchases condominium unit mortgages with a project review process, mortgages on 2- to 4-unit properties that serve key affordable housing inventory, and 1- to 4-unit investment property mortgages.

Manufactured home mortgages are eligible too, and CHOICEHome brings site-built underwriting and appraisal standards to CrossMod and CHOICEHome-certified factory-built homes.

Some products serve specific borrower communities as well.

Government-backed and specialized offerings

Freddie Mac purchases Department of Veterans Affairs (VA) mortgages, extending homeownership opportunities to VA-eligible borrowers — a meaningful piece of the mortgage market in a military town anchored by Fort Carson and Peterson Space Force Base. Our team works with VA loans daily, including around PCS moves.

Rural offerings include USDA Rural Housing Service Section 502 Guaranteed loans and Section 502 Leveraged Seconds for low-income rural borrowers. Section 184 Native American Mortgages guaranteed by HUD and the HeritageOne mortgage serve members of federally recognized tribes.

Community Land Trust mortgages and mortgages on income-based resale restricted properties preserve affordable housing units over time.

Refinancing borrowers get their own product set.

Refinance and payment-structure options

A no cash-out refinance can consolidate higher-rate seconds into one loan, lower the monthly payment, and roll closing costs, financing costs and prepaids into the new loan amount. A cash-out refinance lets homeowners leverage home equity for debt consolidation, home improvements or paying off a junior lien. Refi Possible gives lower-income borrowers a path to reduce monthly mortgage expenses. Compare paths on our refinance page.

Temporary subsidy buydown plans subsidize the monthly payment of principal and interest early in the loan, with predictable payment increases afterward. The Financed Permanent Buydown Mortgage permanently reduces the interest rate on the loan without additional cash at closing.

Super conforming mortgages use the higher loan limits permitted in designated high-cost areas, and Freddie Mac also purchases first mortgages originated alongside secondary financing.

Does Freddie Mac offer reverse mortgages?

Reverse mortgages are a separate category. Per the Consumer Financial Protection Bureau, most reverse mortgages today are Home Equity Conversion Mortgages (HECMs) insured by the Federal Housing Administration, alongside proprietary and single-purpose reverse loans — none of which appear on Freddie Mac’s single-family product list.

Your next step in Colorado Springs

Freddie Mac publishes this lineup for lenders at sf.freddiemac.com, but borrowers experience it through the loan officer who matches a product to their file.

Talk with 719 Lending about your income, down payment and property type, and we will walk through which Freddie Mac products — or alternatives — your situation supports, and confirm current limits and eligibility rules before you apply.

Frequently asked questions

Does Freddie Mac lend money directly to homebuyers?

No. Lenders originate the loans and sell eligible mortgages to Freddie Mac in the secondary mortgage market. Borrowers work with a lender or broker, such as 719 Lending, not with Freddie Mac itself.

What is the Freddie Mac Home Possible mortgage?

Home Possible is Freddie Mac’s low down payment mortgage for very low- to moderate-income borrowers. It offers credit flexibilities and the ease of a conventional mortgage, and it can be paired with subsidized secondary financing like Affordable Seconds.

What is the difference between HomeOne and Home Possible?

Both are low down payment Freddie Mac products. Home Possible is limited to very low- to moderate-income borrowers, while HomeOne serves qualified first-time homebuyers regardless of income level or geographic location, plus no cash-out refinance borrowers.

Does Freddie Mac buy VA loans?

Yes. Freddie Mac’s VA mortgage offering provides the existing benefits under the Department of Veterans Affairs program and is aimed at reaching VA-eligible borrowers, including those in high-cost housing markets.

What is a super conforming mortgage?

A super conforming mortgage is a Freddie Mac loan originated using the higher maximum loan limits permitted in designated high-cost areas. The higher limits provide lenders with liquidity in the highest-cost areas while lowering financing costs for borrowers there.

Does Freddie Mac offer reverse mortgages?

Reverse mortgages do not appear on Freddie Mac’s single-family product list. According to the CFPB, most reverse mortgages are FHA-insured Home Equity Conversion Mortgages (HECMs), with proprietary and single-purpose reverse loans as the other categories.

719 Lending Inc., NMLS #1601989 · Equal Housing Opportunity

719 Lending Inc. is not affiliated with or endorsed by HUD, FHA, VA, USDA, CHFA, the CFPB, or any government agency.

Last updated: September 2026