Home Possible

What Is the Home Possible® Program?

The Home Possible® program, offered through Freddie Mac, is designed to make homeownership more accessible for qualified borrowers, especially first-time buyers and those with low to moderate incomes.

A Low Down Payment Mortgage Solution

Grow opportunities with:

• A 3% down payment with flexible sources of funding
  
  • Realize the milestone of homeownership faster without the barrier of a 20% down payment, having the freedom of flexible sources of funds, such as gifts and grants, and with no minimum borrower contribution required.
• Housing options from single-family homes, manufactured housing, energy-efficient properties and renovations to the ever-growing condominium market
  • Leverage additional flexibilities that meet a range of life situations, such as ownership of another property, non-occupant borrowers and the ability to use rental income to qualify.
• Cancel mortgage insurance
  • When eligible, reducing the monthly mortgage payment and potentially saving thousands over the life of the loan.
• Financial Literacy
  • Enable empowered decisions and life-long responsible homeownership with financial literacy education for borrowers who are new to homeownership.

Who Qualifies?

• Income limits relative to the area median income (AMI)*
• Property location
• Borrower’s credit profile
• Loan type and purpose

• First-time homebuyers
• Individuals with limited savings
• Buyers seeking affordable financing options