Freddie Mac Home Possible®
A low down payment advantage
Freddie Mac’s Home Possible Advantage and Home Possible products are designed for low-to-moderate income homebuyers and/or individuals purchasing or refinancing properties in target areas.
Compare to Fannie Mae HomeReady™.
Although similar to the Fannie Mae HomeReady program, Home Possible offers different benefits for qualifying homebuyers in the areas this program was intended to target.
Freddie Mac Home Possible® specifications
1-Unit, fixed-rate only at max LTV of 97% and max loan amount at $424,100.
Minimum FICO 660 (with manual underwrite)
Features & Highlights
- Low down payment options
- Lower MI Coverage/MI Premium for LTVs Exceeding 90%
- Interested Party Contributions Allowable