Information for Single-Family Lending and Real Estate Professionals
Program Announcement

November 21, 2019
Important Changes Effective 2/12/2020 to Freddie Mac's HFA Advantage for the Home Advantage and House Key programs

Freddie Mac recently informed the Washington State Housing Finance Commission of upcoming changes to the pricing benefit for Freddie Mac's HFA Advantage loans. The changes being implemented mirrors the changes Fannie Mae implemented on September 5th, 2019.

Please see Freddie Mac HFA Program Changes Matrix here.

What is changing?

Beginning February 12, 2020 Freddie Mac will limit the HFA Advantage pricing benefit (credit fee in price waiver and charter minimum MI requirement of 18%) to loans with incomes at or below 80% AMI.

What does this mean for you?

Borrowers with incomes at or below 80% AMI will continue to receive all current benefits of HFA Advantage pricing, including:

97% LTV – 105% CLTV

Charter Level MI Coverage – 18%

No loan level pricing adjustments

Borrowers with incomes greater than 80% AMI, up to the Home Advantage program income limit of $145,000 and House Key Opportunity county by county income limits, will be deliverable under the following terms:

97% LTV – 105% CLTV

Standard MI Coverage – 35%

Higher interest rates – We expect interest rates to be approximately .50% - .75% higher compared to borrowers below 80% AMI.

Timing and Implementation:

In order for Commission loans to meet deadlines prior to the implementation of the Freddie Mac changes, HFA Advantage loans with income limits greater than 80% AMI, reserved on or before February 11, 2020 and have LPA findings dated no later than February 11th and must be purchased by March 31, 2020.

Extensions will not be granted on locks made on or before January 31, 2020.

Reservations made after January 31 and before February 12, 2020, we are requiring written confirmation from your corporate office stating you can meet the deadline and are aware the loan may be subject to higher pricing and MI if deadline is not met.

Your LPA findings must include the identified property address.

Please note: If your loan does not meet the criteria and /or deadline above the loan may be subject to the new changes, which could mean a higher rate and/or higher MI.

Our pricing will change in Lender Online and on our rate sheets on February 12, 2020 in accordance with Freddie Mac's announcement. We may need to review the pricing upon receipt of your LPA findings.

If you have additional questions, please email


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