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!
Customer Reviews
10/10 with Ryan and his team. They made the whole process easy and fast and were accessible for me throughout. They made sure we had everything all set for closing with no delays at all. I will definitely be using them again and will recommend them to anyone I know.
I had an excellent experience with GMFS Mortgage. Jason and Sandy were easy to work with, helped me to feel comfortable and informed throughout the entire process, and stayed on top of things every step of the way. Thanks for ensuring that everything ran smoothly for my first home purchase!
Great loan product, great experience, good people.
I love, love, love working with this group!! Amazing
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