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
Working with GMFS Mortgage was quick and easy – Kevin was very knowledgeable & we felt well-informed during our home-buying process. He was easy to talk to & was always available to answer questions thoroughly. Thanks for helping us purchase our first home! We’ll use GMFS Mortgage again in the future.
GMFS Mortgage was great to work with! Super fast response time any time I had questions, which was a lot! Made first time home buying a wonderful experience!
Ryan and his team were very helpful during this whole process. They were very informative and did everything they could to get me exactly what I wanted.. Anytime I became discouraged they made sure to let me know not to worry and that everything would work out. They kept me updated every step of the way, I couldn’t have asked for a better team. [Zillow reviews]
Established
Over 96,000 customers and $16.7 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