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» VISIT US ONLINE @ DSNEWS.COM 27 FREDDIE MAC UPDATES HOME POSSIBLE TOOL FOR LENDERS Freddie Mac is offering an updated Home Possible Income & Property Eligibility Tool which allows lenders to determine if a borrower meets the income requirements for a low down payment mortgage on a specific property. e map-based Home Possible Income & Property Eligibility tool allows lenders to check for borrower eligibility for a high LTV loan for a property by simply entering that property's address. Freddie Mac Home Possible mortgages, which allow down payments between 3 and 5 percent, are often attractive solutions for low- and moderate- income borrowers, first-time homebuyers, millennials, and past homeowners who are returning to the market, according to Freddie Mac. Borrowers can qualify for a Home Possible Mortgage if their income is up to 170 percent of the area's median income (AMI). If the property is located in an underserved area, there are no income thresholds. e program also features a free online tutorial to meet the education requirement for first-time homebuyers. Freddie Mac's Home Possible Mortgage Program offers the following: » LTV:Maximum LTV and TLTV of 95 percent. » Property Options:1-4 units, condos and planned-unit developments; manufactured homes are eligible with certain restrictions. » Mortgage Flexibility:15- to 30-year fixed-rate mortgages, 5/1, 7/1 and 10/1 ARMs. » Refinance Options:No cash-out refinancing option is available for borrowers who occupy the property. » Freddie Mac's Home Possible Advantage Mortgage Program offers the following: » LTV:Maximum LTV of 97 percent; TLTV 105 percent. » Property Options:1-unit properties, condos and planned unit developments; manufactured homes are not eligible. » Stable Mortgages:Fixed-rate mortgages with a term of up to 30 years. » Refinance Flexibility:Purchase and no cash-out refinancing options available. » Primary Residence Only:All borrowers must occupy the property as their primary residence. How has your experience growing your company shaped your view on the importance of diversity and inclusion in the workplace? Diversity and inclusion, for me, has always been about being fair and just. It's the right thing to do. is has always been part of my value system and what I expect from those that work with me. Many of my early staff members were women. ey were qualified, capable, and committed to helping us grow from practically nothing to where we are today. We live and work in a diverse community and this is reflected in our workforce. In today's market, you have to compete not only for customers, but for the best employees. I believe our commitment to diversity and inclusion gives us a competitive advantage. What made you start up ASONS? I was a Real Estate Broker and my son, Jeff, became a Realtor as well, and we worked as a team. Jeff had a passion for construction and began introducing various ideas for expanding our realty business. Eventually, after much discussion, we decided to expand our service offering. Specifically, we would buy homes and flip them. I handled the real estate transactions while Jeff did all of the repairs and maintenance for the homes. We would then either sell or rent the property. We later decided to form a separate company to focus in this area which became A-Son's Construction Company. e name later evolved to ASONS. What would you tell younger women about starting a company? I would strongly encourage a young woman, or anyone really, to learn as much as they can about the business in which they are interested. Understand that it is not easy, be willing to seek help where necessary and take it one step at a time. Stay motivated! Read motivational books, blogs and magazines which feature women business owners and leaders. e work is hard, seek balance. What has worked for me is to put God first and foremost in my life; next in line my family, followed by business and others. Where do you think there can be further opportunities for women? e sky is the limit!! Today, there are so many ceilings that have been broken through by women and in my humblest opinion, any woman can go anywhere she wants to if she sets her mind to it and forges ahead!! "You Go Girls!!!" What personal challenges have made you a stronger woman? Without a doubt, my recent battle with Breast Cancer has been my greatest personal challenge. rough three surgeries, my Cancer Journey not only challenged me physically, emotionally, and mentally, but spiritually as well. Today, I'm able to say, with an abundance of "gratitude", that I'm not only a "stronger woman" but a blessed Cancer Survivor!! CAROLYN THOMPSON, President & Founder, Asons DIVERSITY PERSPECTIVES "In today's market, you have to compete not only for customers, but for the best employees. I believe our commitment to diversity and inclusion gives us a competitive advantage."

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