NEW Freddie Mac Additional Income Subsidy Grant Program
Freddie Mac Affordable Income Subsidy (AIS) Grant Program
This program may be used with the Freddie Mac HFA Advantage (Conventional) Program ONLY. Borrowers using the Freddie Mac HFA Advantage Loan who meet specific income limits may be eligible for a grant made by Freddie Mac to help with down payment and closing costs (the “Affordable Income Subsidy Grant” or “AIS Grant”). The income limits for the AIS Grants are determined by the county location of the home (see link). Borrowers at or below 50% of the Area Median Income (“AMI”) Limits as published by Freddie Mac are eligible for an AIS Grant in the amount of $2,500 and borrowers above 50% of AMI but at or below 80% AMI are eligible for an AIS Grant of $1,500.
There is no repayment of the AIS Grant – it is a grant subsidy.
If the borrower qualifies, the borrower may receive the AIS Grant from Freddie Mac and DPA assistance and a mortgage credit certificate from the Issuer. These subsidies are stackable.