Your Guide to the Home Possible® Mortgage
Discover the Possibilities with Home Possible®
5 Things You Should Know About the Freddie Mac Home Possible® Mortgage
- Home Possible® responsibly offers qualified very low- to low-income borrowers a low, 3% down payment financing option.
- Borrowers can have additional financed properties.
- Non-occupant co-borrowers may help borrowers qualify for a 1-unit property.
- Many types of down payment sources are acceptable with Home Possible®, including family, employer-assistance programs, secondary financing, and sweat equity.
- At 20 percent equity, borrowers may cancel mortgage insurance -reducing monthly mortgage payments and potentially saving money over the life of the loan.
Who Are Ideal Borrowers?
Empower borrowers to make informed decisions for responsible homeownership by eliminating a common barrier with a down payment as low as 3%.
The Freddie Mac Home Possible® mortgage offers more options and credit flexibilities than ever before to help very low- to-low-income borrowers attain the dream of owning a home. Take a look…
Explore Home Possible®
The Benefits of Home Possible®
Explore the benefits of choosing a Home Possible® mortgage.
- Allow for flexible sources of funding for down payment and combinable with many other types of down payment assistance.
- Apply sweat equity for up to the entire amount of the down payment and closing costs by applying construction skills for necessary improvements.
- Provide qualified, very low- to low-income borrowers, and those who live within low income census tracts, a maximum financing option with maximum flexibility.
- Enable the dream of home, whatever it may look like; single-family, manufactured housing or condominium.
- Cancel mortgage insurance upon reaching 20 percent equity, reducing the monthly mortgage payment, and potentially saving thousands over the life of the loan.
- Enable empowered decisions and life-long responsible homeownership with required financial literacy education, which can be fulfilled by Freddie Mac’s online, free CreditSmart® Homebuyer U tutorial.
Make Home Possible®
Let’s Get Started
Getting started with a Home Possible mortgage is easy!
Find videos and other materials for all your Home Possible® training and education needs.
- Home Possible® Mortgage Factsheet
- Home Possible® Income Eligibility Training – for Freddie Mac Seller and Servicer Clients
- Home Possible® Mortgage: Discover the Possibilities
- Loan Product Advisor®
If you’re a lender, real estate or housing professional, we invite you to join us at industry conferences, workshops, and events.
Check for Eligibility
The Freddie Mac Home Possible® mortgage offers outstanding flexibility to fit a variety of borrower situations. With Home Possible, we’re all for helping you capitalize on opportunities to meet the financing needs of very low- to low-income borrowers looking for low down payment options and flexible sources of funds. Use the resources below to check your borrower and location eligibility.
Already a Home Possible Pro?
The RISE (Recognizing Individuals for Sustained Excellence) Awards showcase top Home Possible® mortgage producers who are committed to making homeownership a reality for very low- to low-income borrowers.
Award winners represent national and local lending companies, as well as their standout loan originators who are committed to making responsible and sustainable homeownership a reality.