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Freddie Mac Affordable Gold 100
No down payment mortgage program for low- and moderate-income Californians

Mortgage Library: Types of Mortgage Loans: Affordable Gold 100

Freddie Mac and California Housing Finance Agency offer Affordable Gold 100, new no down payment mortgage program for California home buyers. The down payment is no longer a housing obstacle in California. Informed low- and moderate-income buyers won't need cash to buy their first home.

Under the program, no down payment is required, but borrowers are responsible for paying the closing costs associated with the home purchase. Cash for closing costs can come from a variety of sources, including a grant from a qualified institution; gift from a relative or an unsecured loan. Borrowers can have incomes up to 120 percent of the area median.

Borrowers interested in this no down payment mortgage program can contact the participating lenders at the following numbers:

  • Countrywide Home Loans: (800) 577-37-32
  • North American Mortgage Company: (800) 700-62-62
  • Chase Manhattan Mortgage Corp: (800) 894-54-40

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