New Freddie Mac mortgage product will help Native Americans buy homes

Freddie Mac has announced the launch of a new mortgage product that aims to provide affordable financing options for Native American communities.

The new product, called HeritageOne, will provide affordable loan options for single-family properties on tribal lands in rural areas. Freddie Mac has collaborated with Lakota Funds, the first-ever Native community development financial institution on tribal lands, to promote the new offering.

“With HeritageOne, we are again breaking new ground in our efforts to safely and responsibly expand opportunities in traditionally underserved communities,” said Sonu Mittal, senior vice president of acquisitions at Freddie Mac Single-Family. “Our commitment to making home possible for Native American families not only requires long-term planning and prudent execution but strong partnerships with industry members and tribal leaders. Through this collaboration, we can help create more affordable mortgage options in tribal lands and rural areas.”