Fixed-rate Mortgage Overview
As a cornerstone of U.S. home financing, Freddie Mac purchases a variety of fixed-rate mortgages. Starting with traditional 15-, 20-, and 30-year fixed-rate mortgages, and expanding into many varieties of specialty mortgage products - like 40-year fixed rate Home Possible(R) Mortgages - our fixed-rate mortgage offerings leverage the power of a fixed interest rate for the life of the loan. Use most fixed-rate mortgages for single-family homes, including 1- to 4-unit primary residences, condominiums, second homes, manufactured homes, and investment properties.

Today we have the advantages you need for your current fixed-rate mortgage originations. Combine a 15-, 20-, and 30- year fixed-rate mortgage with a range of Freddie Mac mortgage products, and cash sales or securities executions for highly competitive options that meet the needs of an increasingly diverse borrower base.

For super conforming fixed-rate mortgages, see our detailed requirements in Chapter L33 of the Single/Family Seller/Service Guide (Guide).

Feature Requirements
Property Type 1- to 4-unit primary residences, including condos, PUDs and manufactured homes.
Second homes
1- to 4-unit investment properties

Transaction Type Purchase
No cash-out refinance
Cash-out refinance

Maximum LTV Ratios (without secondary financing) Maximum LTV ratios must comply with Single-Family Seller/Servicer Guide (Guide) Chapter 23.4.1.

Down Payment or Closing Costs Secondary financing
Shared equity plans
Temporary subsidy buydown plans
Other options based on mortgage product type

Eligibility/Underwriting Loan Prospector(R)
Non-Loan Prospector
Minimum Indicator Score of 620 unless otherwise specified in the Guide (Loan Prospector(R) A-minus mortgages are exempt).
All mortgages must meet the risk class and/or minimum Indicator Score requirements in Guide Exhibit 25A.
Maximum debt-to-income ratio of 45 percent for manually underwritten mortgages except Streamlined Refinance Mortgages.

Execution Options Servicing-released Cash*
Servicing-retained Cash
Fixed-rate Guarantor
MultiLender Swap
* See our selling system availability matrix [PDF] for a list of specific fixed-rate mortgages eligible for sale through Cash under mandatory contracts servicing released and best efforts contracts with, servicing released or retained.

Delivery Fees Postsettlement delivery fees may apply based on the individual characteristics of the mortgage. See Guide Exhibit 19 [PDF] for details on applicable fees.

Special Delivery Requirements You must deliver all mortgage data required by Form 11.

Lender Benefits
Fixed-rate mortgages help you:

Offer a popular, stable mortgage product line that can be combined with many options to increase your origination volume in any market condition.
Enhance your competitive options with both cash and securities sale options.
Effectively manage your retained mortgage holdings with seasoned fixed-rate mortgage sale solutions.
Benefits for Your Borrowers
Fixed-rate mortgages help your borrowers:

Obtain the security of a stable monthly payment throughout the life of the mortgage.
Leverage 15- and 20-year fixed-rate mortgages to build equity more quickly, or take advantage of a lower monthly payment with a 30- year fixed-rate mortgage.
Choose from a variety of home financing options, for a variety of property types, to meet individual financial circumstances.