Home Possible
Freddie Mac's Home Possible program helps low-to-moderate income borrowers achieve homeownership with low down payments, reduced mortgage insurance, and flexible qualification guidelines.
3%
Min. Down Payment
80% AMI
Income Limits
660
Min. Credit Score
Key Features
- Down payment as low as 3%
- Reduced mortgage insurance
- No first-time buyer requirement
- Income from non-borrowers can be used
Benefits
- Lower mortgage insurance than standard loans
- Gift funds and grants allowed
- Can use rental income from boarders
- Available in all 50 states
Requirements
- Income at or below 80% of area median
- Credit score of 660+ recommended
- Homeownership education course required
- Property must be primary residence
Ideal For
- Low-to-moderate income borrowers
- First-time and repeat buyers
- Buyers with limited savings
- Those in eligible census tracts
Ready to Get Started?
Contact Jimmy Joseph MBA to discuss your home possible options.
Jimmy Joseph MBA
NMLS #1577754
Branch NMLS #2477715
Let's Find Your Perfect Mortgage
Every situation is unique. Get personalized guidance from Jimmy Joseph MBA to find the best solution for you.