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
Over the past 12-years I have been involved in 5 home purchases with mortgage. This was perhaps the fastest, easiest mortgage loan processing I have been involved with aside from relocations where all of the work was done for me. Thank you Aaron and team for a very smooth low-stress experience. I have and will recommend your team to others.
Carrie and her team were excellent. Very attentive and always highly responsive as we went through the process. We couldn’t have been happier.
She was very helpful and honest through the process. I would recommend her to anyone looking to refinance a mortgage or obtain a mortgage.
Carrie is awesome. Knowledgeable, helpful, and kind
Carrie is a rockstar. She is very easy to deal with and is on top of everything. I could not recommend her more.
Established
Over 100,000 customers and $18 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