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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.

 
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1725 East 1450 South Suite 100 Clearfield, UT  84015 | LO NMLS ID: 8785-NMLM

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