Freddie Mac has announced a new program that will help eligible employees become first-time homebuyers.The Home Benefit Program offers financial assistance and homeownership education to full- and part-time employees who make less than $75,000 in annual base pay and have worked at least a year at the government-sponsored enterprise, Freddie Mac said. The program provides an interest-free, forgivable benefit of up to $12,000 that can be used to cover downpayments, closing costs, loan origination fees, or discount points for first-time homebuyers. Twenty percent of the benefit is forgiven each year over five years of continued service, Freddie Mac said.
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