Home Possible Mortgage

Home Possible Mortgage

Home Ready Home Possible

Home Possible Mortgage Loans offer

  • Availability to lower income borrowers at a low down payment.
  • Affordable rates and mortgage insurance at qualifying credit scores.
  • Non Occupant co-borrowers can help borrowers qualify.
  • Affordable solutions for first time homebuyers.

Benefits of a Home Possible Mortgage

  • Low money down. As low as 3% down for home purchase’s and 95% loan to value for refinances.
  • No minimum contribution required from the borrower’s own funds.
  • Gift funds, Grants, Cash on hand, proceeds from unsecured loans and sweat equity allowed.
  • Conforming and super conforming loan amounts allowed. $726,200.00 conforming and $1,089,300 Super con forming.
  • Manufactured homes with fully amortizing fixed rates.
  • Affordable seconds can provide 100% of borrowers down payment funds.
  • Any secondary financing that meets Freddie Mac requirements is allowed.
  • Borrowers with out credit score eligible at 95% loan to value.
  • Owner occupied, planned unit development, Manufactured homes, and condominiums are eligible.

Home Possible Mortgage Features

  • Freddie Mac offer’s 3% and 5% down solutions.
  • First-time buyer or previous home buyer.
  • Mortgage insurance is reduced compared with standard requirements and automatically drops off at 78% loan to value.
  • Down Payment funds can come from a family member, employer-assistance programs and secondary financing.
  • Flexible mortgage terms fixed rate 30 yr for 97% loan to value 20, 15, and 10 yr terms for 95% loan to value.
  • Household income considered for qualifying.
  • Primary residence only 1 unit, 2 to 4 units have additional requirements.

Home Possible Mortgage Eligibility

Qualifying income is limited to 80% of the area median income (AMI) Click here to see if you are eligible. Homeownership Education is required. homeownership education my be provided by an eligible source such as a HUD approved counseling agency or insurance provider. A certificate of of completion much be provided.

Get Pre-Approved for a Home Possible Mortgage

Licensed in Michigan and Florida for Home Possible mortgage loans.

Getting started is easy. We offer very competitive rates, have great service, and always close on time.


Gold Star Mortgage Financial Group - Christopher Chaffin NMLS # 3446
Christopher Chaffin NMLS # 158336

Contact Us

Gold Star Mortgage Financial Group - Christopher Chaffin
100 Phoenix Drive
Ann Arbor, MI 48108

(313) 218-7492

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