Home Possible Mortgages
Freddie Mac Home Possible® mortgages offer low down payment options for low- to moderate-income homebuyers, buyers in high-cost, or buyers in underserved communities.
| Home Possible: 95% LTV |
Home Possible Advantage: 97% LTV |
LTV: Maximum LTV of 95%
Maximum TLTV of 95% |
LTV: Maximum LTV of 97$
Maximum TLTV of 105% |
| Property Options: 1-4 units, condos and planned-unit developments; manufactured homes are eligible with certain restrictions. |
Property Options: 1-unit properties, condos and planned unit developments; manufactured homes are not eligible. |
| Flexible Sources of Down Payment: Down payment can come from a variety of sources, including family, employer-assistance programs, and secondary financing. |
Flexible Sources of Down Payment: Down payment can come from a variety of sources, including family, employer-assistance programs, and secondary financing. |
| Cancellable Mortgage Insurance: Mortgage insurance can be cancelled after the loan balance drops below 80% of the home's appraised value. |
Cancellable Mortgage Insurance: Mortgage insurance can be cancelled after the loan balance drops below 80% of the home's appraised value. |
| Mortgage Flexibility: 15- to 30-year fixed-rate mortgages, 5/1, 5/5, 7/1 and 10/1 ARMs. |
Stable Mortgages: Fixed-rate mortgages with a term of up to 30 years. |
| Refinance Options: No cash-out refinancing option is available for borrowers who occupy the property. |
Refinance Flexibility: Purchase and no cash-out refinancing options available. |
| Income Flexibility: Borrowers with incomes above AMI may be eligible in high-cost areas. No income limits in underserved areas. |
Income Flexibility: Borrowers with incomes above AMI may be eligible in high-cost areas. No income limits in underserved areas. |
| No Credit Score Necessary: Borrowers without credit scores are eligible for mortgages with down payments as low as five percent. |
Primary Residence Only: All borrowers must occupy the property as their primary residence. |