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
I felt like I had 20 people working on my loan but no matter what came up they were all great! Thanks!
These people made the process of purchasing a home bearable. Very helpful, available and friendly. I especially loved the videos that explain each step in the process. I highly recommend.
Ryan was a huge help in my house hunting and purchase process. He was always great at responding to my emails and phone calls and making sure all my questions and concerns were answered. I would recommend GMFS Mortgage to others.
Established
Over 89,000 customers and $14.9 billion in residential mortgage funding in 23 states
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Processing, underwriting, and closing under same roof means smooth & predictable closings
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Experienced
GMFS staff has an avg. of 14+ years of mortgage industry experience