Your Guide to the Home Possible® Mortgage (2024)

5 Things You Should Know About the Freddie MacHome Possible^® Mortgage

1. Home Possible^®responsibly offers qualified very low- to low-income borrowers a low, 3% down payment financing option.
2. Borrowers can have additional financed properties.
3. Non-occupant co-borrowers may help borrowers qualify for a 1-unit property.
4. Many types of down payment sources are acceptable with Home Possible^®, including family, employer-assistance programs, secondary financing, and sweat equity.
5. At 20 percent equity, borrowers may cancel mortgage insurance -reducing monthly mortgage payments and potentially saving money over the life of the loan.

Who Are Ideal Borrowers?

Empower borrowers to make informed decisions for responsible homeownership by eliminating a common barrier with a down payment as low as 3%.

The Freddie Mac Home Possible^® mortgage offers more options and credit flexibilities than ever before to help very low- to-low-income borrowers attain the dream of owning a home. Take a look…

Explore Home Possible^®

The Benefits of Home Possible^®

Explore the benefits of choosing a Home Possible^®mortgage.

• Allow for flexible sources of fundingfor down payment and combinable with many other types of down payment assistance.
• Apply sweat equityfor up to the entire amount of the down payment and closing costs by applying construction skills for necessary improvements.
• Provide qualified, very low- to low-income borrowers, and those who live within low income census tracts,a maximum financing option with maximum flexibility.
• Enable the dream of home, whatever it may look like; single-family, manufactured housing or condominium.
• Cancel mortgage insuranceupon reaching 20 percent equity, reducing the monthly mortgage payment, and potentially saving thousands over the life of the loan.
• Enable empowered decisionsand life-long responsible homeownership with required financial literacy education, which can be fulfilled by Freddie Mac’s online, freeCreditSmart^®Homebuyer U tutorial.

Discover the vast possibilities of Home Possible for your borrowers.

Make Home Possible^®

Let’s Get Started

Getting started with a Home Possible mortgage is easy!

Find videos and other materials for all your Home Possible^® training and education needs.

• Home Possible^®Mortgage Factsheet
• Home Possible^®Income Eligibility Training – for Freddie Mac Seller and Servicer Clients
• Home Possible^®Mortgage: Discover the Possibilities
• Loan Product Advisor^®

If you’re a lender, real estate or housing professional, we invite you to join us at industryconferences, workshops, and events.

Check for Eligibility

The Freddie Mac Home Possible^®mortgage offers outstanding flexibility to fit a variety of borrower situations. With Home Possible, we’re all for helping you capitalize on opportunities to meet the financing needs of very low- to low-income borrowers looking for low down payment options and flexible sources of funds. Use the resources below to check your borrower and location eligibility.

• Home Possible^®Income and Eligibility Tool
• Home Possible^®Mortgage Requirements

Already a Home Possible Pro?

The RISE (Recognizing Individuals for Sustained Excellence) Awards showcase top Home Possible^®mortgage producers who are committed to making homeownership a reality for very low- to low-income borrowers.

Award winners represent national and local lending companies, as well as their standout loan originators who are committed to making responsible and sustainable homeownership a reality.