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.