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
Service was very efficient and courteous. Made our tight deadline to close. Thankful to the team at GMFS.
Doug and his team worked extremely efficiently with my loan. Also the best service and communication I’ve experienced! Thank you for your help in getting my loan done!
Stephanie, Christy & the entire team at GMFS Covington were phenomenal! They worked tirelessly to help our family secure a mortgage on our new home. We highly recommend GMFS Covington and will use them for any future mortgage needs.
Great overall experience. Fast, knowledgeable and friendly.
I’m so thankful I went with GMFS Mortgage to purchase my home in Selma Texas! Brandi LeBas made this so easy and smooth from beginning to end. She was honest, straightforward and such a pleasure to work with. She seamlessly worked behind the scenes with my real estate agent, sellers agent and Title Company. Couldn’t have asked for better! Thank you so much Brandi, Sandy and the rest of the GMFS team for making my dream of owning a home possible and for making it such a great experience!
Established
Over 150,000 customers and $30 billion in residential mortgage funding in 23 states
Efficient
Processing, underwriting, and closing under same roof means smooth & predictable closings
Trusted
A+ rating with BBB and winner of Torch Award for Marketplace Trust
Experienced
GMFS staff has an avg. of 14+ years of mortgage industry experience
*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.
| Loan Term | Down Payment | Annual Percentage Rate | Estimated Monthly Payment |
| 30 year fixed rate | 10% (90% LTV) | 4.75% | $1,043 |