Home Possible®

The Home Possible® program by Freddie Mac offers low down payments for buyers who reside in under-served communities and very low and low-to-moderate income buyers. This program offers 3% down payment options and more flexibility for maximum financing to better meet a variety of buyers’ needs.

Highlights & Terms

  • Minimum down payment of 3%
  • No cash-out refinance option is available for borrowers who occupy the property
  • Flexible sources of down payments
  • For purchase transactions secured by 1-4-unit primary residences, if all borrowers are first-time homebuyers, at least one occupying borrower must participate in a homeownership education program

Guidelines & Consideration

  • Property options include 1-4 units, condos and planned-unit developments
  • Borrower’s income cannot exceed 80% of Area Median Income unless the property is located in low-income area
  • Second home and investment properties are not eligible
  • Minimum credit score applies

Home Possible® is a registered trademark of Freddie Mac.

READY TO GET STARTED?

Fill out the form below and I will contact you about this program and other options available for first time buyers.

NOTE: First Home Mortgage Corporation does not share or sell your personal information with outside companies for promotional use.

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