Freddie Mac Home Possible® and Home Possible AdvantageSM
Freddie Mac Home Possible and Home Possible Advantage offer first-time home buyers and low- to moderate-income borrowers low down payments and flexible source of funds.
- Purchase or rate/term refinance
- 1-4 unit primary residence
- Borrower’s own funds are not required for the down payment on 1-unit residence
- Borrowers are not required to be first-time homebuyers
- Homeownership education course required for first time homebuyers
- Income and property restrictions apply per Freddie Mac guidelines (income limits do not apply in underserved areas - LP® will determine applicability)
- Affordable Seconds® and institutional subordinate financing is allowed up to 95% CLTV
- Affordable Seconds are allowed up to 105% CLTV on Home Possible Advantage
- Lower mortgage insurance cost due to lower MI coverage requirements compared to standard Freddie Mac Programs
- Lender Paid Mortgage Insurance options offered
Call us today to get started!