Senator Roberts to Announce Military Homebuying Effort at Fort Riley

Freddie Mac, Central National Bank and United Way Working to Increase Homeownership Press Conference on Sept. 13 at 11 a.m. at Geary County Convention Center/Courtyard Marriott 


JUNCTION CITY, Kan., Sept. 13  /PRNewswire/ -- U.S. Senator Pat Roberts (R-KS), Freddie Mac, Central National Bank and the United Way of Junction City Geary County have joined forces to announce Home Possible Mortgages, an initiative expanding homeownership opportunities for military families, as well as "Credit for Life," a financial literacy education program offered at Fort Riley to help military families plan for future homeownership. Home Possible Mortgages are designed to assist first-time homebuyers, especially those with limited credit or downpayment savings.

"Having a place to call home is important.  We must do all we can to ensure our military men and women achieve the American Dream," said Senator Pat Roberts (R-KS).  "I look forward to seeing these brave individuals utilize opportunities like Home Possible(R) in Kansas and across the country.  Our men and women in uniform must know we support them and their families as they risk their lives fighting for our freedoms."

Freddie Mac's Home Possible suite of mortgages, offered locally by Central National Bank, could boost the home buying power of nearly 1.5 million members of the United States Army, Navy, Air Force, Marines, Coast Guard, National Guard and recent retirees.  To qualify for Home Possible's expanded benefits for the military, participants must be on active duty, in the reserves, or separated from their respective services by less than two years.

"Thanks to Sen. Roberts, Freddie Mac is here today to help the men and women who serve in our nation's armed forces enjoy the American Dream of homeownership," said Craig Nickerson, vice president of Expanding Markets, Freddie Mac. "By working together with Central National Bank, we are expanding Home Possible's reach and fulfilling Freddie Mac's mission to serve America's borrowers by strengthening America's mortgage market."

"Freddie Mac has developed innovative mortgages that have been most helpful to our servicemen and women stationed at Fort Riley who are either in the process of buying a home now or who wish to plan ahead for that possibility in the future," said Robert Munson, president of Central National Bank, Junction City. "We are excited to work with Freddie Mac on these initiatives. Under our community outreach financial literacy campaign, with Freddie Mac's support, we are conducting "Credit for Life" workshops as a public service to military units on Fort Riley as well as to any other local community groups requesting an educational event of this type. These programs help make the dream of home ownership a reality."

"Poor financial decisions can be detrimental to a Soldier's personal life and professional career.  Educating Soldiers, especially when it comes to making financial decisions, is critical for a strong fighting force and the success of our military missions," said CPT Bethany Deschamps, Ft. Riley.

Home Possible mortgages have very low down payment requirements and flexible credit requirements, making them ideal to foster homeownership in underserved communities as well as for families at or below median income levels.  Home Possible mortgages also offer higher loan-to-value ratios and other underwriting features which allow critical community workers such as teachers, police, firefighters and health care workers -- and now military personnel -- afford homes in the communities they serve.

Home Possible is available through Freddie Mac's national network of more than 2,000 lenders and 10,000 mortgage brokers using Loan Prospector(R), Freddie Mac's automated underwriting service.

For more information borrowers can visit freddiemac.com/singlefamily/homepossible or contact their lender.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.  For additional information about Freddie Mac, see the company's web site: http://www.freddiemac.com/. 

DATASOURCE: Freddie Mac



CONTACT:  Patti Boerger of Freddie Mac, [phone]



Web site:  http://www.freddiemac.com/

http://www.freddiemac.com/singlefamily/homepossible 

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