Homesteps is the REO Division of Freddie Mac, the Federal Home Loan Mortgage Corporation.
Freddie Mac is the second largest secondary mortgage market, chartered by Congress with a mission to promote affordable housing. As a market maker, Freddie Mac purchases loans made by banks and mortgage companies. As the investor behind these loans, Freddie Mac has certain rights including the right to take ownership of the property to protect their interest following a foreclosure.
Homesteps runs regular sales promotions, generally at least twice a year, that provide incentives to buyers and selling agents. Some sales incentives are not available to investor purchasers, check the details of any promotion.
Homesteps also provides a Special Financing option on properties it owns which are in habitable condition. The financing is offered in cooperation with Freddie Mac’s lender partners as Freddie Mac does not make direct loans.
