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
Josh made this experience easy and painless. He was very patient and explained everything in detail. Josh did his very best in getting me the best possible interest rate. I would highly recommend Josh as he was a pleasure to work with!
Everyone was very helpful and professional. Great Staff!
Established
Over 100,000 customers and $18 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