Freddie Mac Introduces New 3 Percent Down Program. Freddie Mac has announced another 3 percent downpayment option for first-time homebuyers. The program is called HomeOne. HomeOne is the second of its kind. The government-sponsored enterprise currently has another 3 percent down conventional mortgage program in place called Home Possible. Home Possible offers the low downpayment option to low- and moderate-income borrowers. Freddie also announced that it is capping Home Possible’s income limits at 100 percent area of median income for properties in designated high-cost areas, designated disaster areas and minority census tracts in order to focus the product on low-to-mod income borrowers. On the other hand, HomeOne is different because it has no geographic or income restrictions on those seeking the 3 percent down option. It may not be used for ...