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
Nicole and GMFS have been wonderful! Nicole answered every question I could think of regarding the loan. For a first time home buyer she made sure I understood everything, it made the process so much easier.
Bryan and GMFS made the refinancing process so easy. Not to mention that they cut my interest rate in half along the way.
Best experience I have gotten. These guys are the best and they do help you get into a home.
Established
Over 97,500 customers and $17 billion in residential mortgage funding in 23 states
Efficient
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