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.
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
Contact a GMFS Mortgage Loan Officer today!
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Customer Reviews
This transaction was one of the most relaxing and simple closings that i have ever been involved in. Greg Price handled my situation like it was his own and i really appreciated that. I will always recommend GMFS to other people for their home loans.
Was quick and easy, everything went so smooth, and please to get much lower rates and less year you pay on mortgage.
The process was easy and Lainey was there every step of the way to help with questions. She was always available and responded quickly. She was my rock!
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Experienced
GMFS staff has an avg. of 14+ years of mortgage industry experience