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
This team was very helpful throughout the process. Made sure everything was understood on my end as well as trying to get me moved in a fast as possible. They worked well with my busy schedule and even was patient with me (I’m very stubborn)! Ryan and the crew thanks!
in all the years that we have bought, sold and refinanced our homes, we have never encountered such a professional, knowledgeable, detailed, attentive and compassionate loan officer like Paul. He has been amazing from the beginning to the closing, and will consider him a friend to us for always, could not have proceeded without him!!!
Hands down Todd made this a painless transaction!
Thank you Darren Gil for your assistance during the entire process for me.
I appreciate your patience, knowledge and staying with me every step of the way.
Ryan and his team are top notch and very easy to work with. He took the time to make sure we understood our options and helped us get the best possible interest rate!
Established
Over 140,000 customers and $27 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 |