Home Possible Loan

Freddie Mac Home Possible Loan

Home Possible loan is designed for creditworthy, low- to moderate-income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities.

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Home Possible Loan Features

  • Low down payment – Up to 95% financing for home purchase with many borrower flexibilities
  • Flexible source of funds – can be used for your down payment and closing costs with no minimum contribution required from your own funds
  • Conventional home financing with cancellable monthly Mortgage Insurance (MI) – helps you save money
  • Homeownership education – helps you get ready to buy a home and be prepared for the responsibility of homeownership. The Freddie Mac required homeowner education training is available online at http://www.freddiemac.com/creditsmart
  • For purchase and Rate Term Refi only
  • Primary residence only
  • Borrowers cannot own other property
  • Does not provide Cash on Hand
  • Non-occupant co-borrowers are not allowed

Compare Home Possible, HomeReady and Home Possible Advantage

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Rating: 5 out of 5

Ashley Neely was very informative and very helpful during our buying process. Her diligence to help us purchase our first home, was very welcoming. My family and I thank Ms. Neely and the staff for their hard work! God Bless!

Jonathan B.
Rating: 5 out of 5

Jason was professional and knowledgeable and guided through the process expertly

Don D. LaPlace, LA
Rating: 4.5 out of 5

Darren did a great job. He was very knowledgeable and responsive througho the process. Toward the end of the process we did get some odd request from loan approvers (not Darren) which is why I rated the overall experience as ok and not great (i.e. requirement to make cosmetic vinyl siding repairs prior to closing).

Jason M. Saint Francisville, LA
Rating: 5 out of 5

All I can say is Will was great in helping us getting our nome We will never forget Will thank you Will

Jackie Faye W. Calera, AL
Rating: 5 out of 5

They made our first home construction loan effortless. Best and easiest experience. Would definitely use them again. Great, friendly people!

Troy M.

What Sets Us Apart

A Lender Who Cares

With GMFS Mortgage, you’re not just getting a loan—you’re getting a team that’s all in, every step of the way.

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Established

Since 1999, we’ve helped over 150,000 people across 23 states become homeowners.

Efficient

Everything from processing to closing happens under one roof. That means fewer hiccups…and more high-fives.

Trusted

A+ BBB rating. Torch Award for Marketplace Trust. A reputation built on doing the right thing.

Experienced

Our team averages 14+ years in the industry—and a lifetime of showing up for our clients.

*Not a commitment to lend.  All loans subject to credit and property approval.  The following terms are for illustrative purposes only.  Rates, payments, and loans terms vary by consumer based on their individual qualifying information.   The payment amount illustrated does not include the amounts for taxes, property insurance, or mortgage insurance. 

Purchase PriceLoan AmountInterest RateAPRTerm
$239,000$227,0506.5%6.725%30