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FHLMC Home Possible

Get Pre-Qualified Today & Shop with Confidence!

FHLMC Home Possible

Get Pre-Qualified Today
& Shop with Confidence!

The Lowdown on Home Possible…

The FHLMC Home Possible loan program is an ideal solution for low- to moderate-income borrowers without much cash reserves for a down payment. Here are a few specific scenarios for which an FHLMC Home Possible loan may make sense:

  • A first time borrower with less-than-perfect credit and low cash reserves needing financing for a 1-unit primary residence
  • A current low-income homeowner with 5%+ equity is interested in refinancing in order to reduce their mortgage interest rate and/or monthly mortgage payment
  • A borrower who meets all income/debt/asset requirements is purchasing a duplex and intends to live full-time in one unit and rent the other unit out

The Lowdown on
Home Possible…

The FHLMC Home Possible loan program is an ideal solution for low- to moderate-income borrowers without much cash reserves for a down payment. Here are a few specific scenarios for which an FHLMC Home Possible loan may make sense:

  • A first time borrower with less-than-perfect credit and low cash reserves needing financing for a 1-unit primary residence
  • A current low-income homeowner with 5%+ equity is interested in refinancing in order to reduce their mortgage interest rate and/or monthly mortgage payment
  • A borrower who meets all income/debt/asset requirements is purchasing a duplex and intends to live full-time in one unit and rent the other unit out

Our Home Possible Rates Are Low & Our Process is Quick

The FHLMC Home Possible mortgages offer outstanding flexibility and options to meet a variety of borrowers’ needs. With Home Possible, you’ll capitalize on opportunities to meet the home financing needs of low and moderate-income borrowers looking for low down payment and flexible sources of funds.

Our Home Possible
Rates Are Low &
Our Process is Quick

The FHLMC Home Possible mortgages offer outstanding flexibility and options to meet a variety of borrowers’ needs. With Home Possible, you’ll capitalize on opportunities to meet the home financing needs of low and moderate-income borrowers looking for low down payment and flexible sources of funds.

What is required for a Home Possible Loan?

Borrowers can purchase a home with the FHLMC Home Possible program by meeting the necessary eligibility requirements for the program. Financing through the FHLMC Home Possible program allows borrowers who are in moderate to low income brackets to buy a home with up to 97% LTV.

For the Home Possible program, borrowers will need to first evaluate if they meet the income restrictions for their area. Income limits vary by location. Once income qualification has been established, the borrower and lender can proceed as normal through the rest of the loan process.

Home Possible
Loan Requirements

Borrowers can purchase a home with the FHLMC Home Possible program by meeting the necessary eligibility requirements for the program. Financing through the FHLMC Home Possible program allows borrowers who are in moderate to low income brackets to buy a home with up to 97% LTV.

For the Home Possible program, borrowers will need to first evaluate if they meet the income restrictions for their area. Income limits vary by location. Once income qualification has been established, the borrower and lender can proceed as normal through the rest of the loan process.

What are the benefits of the Home Possible Loan? 

Lower Credit Scores Accepted: A borrower with FICO scores of as low as 620 may be eligible for the FHLMC Home Possible program.

Flexible Terms: The FHLMC Home Possible is available in 15, 20, 25 or 30 year fixed rate terms. This provides some flexibility in the amount of time borrowers have to pay off their loans.

Fixed Rates: This program offers fixed rates, allowing each borrower’s principal and interest payments to stay the same, despite fluctuations in the mortgage market.

Low Down Payment, Low Reserves: With the FHLMC Home Possible loan, borrowers can buy a home for as little as 3% down for 1-4 unit primary residences.

Benefits of the
Home Possible Loan

Lower Credit Scores Accepted: A borrower with FICO scores of as low as 620 may be eligible for the FHLMC Home Possible program.

Flexible Terms: The FHLMC Home Possible is available in 15, 20, 25 or 30 year fixed rate terms. This provides some flexibility in the amount of time borrowers have to pay off their loans.

Fixed Rates: This program offers fixed rates, allowing each borrower’s principal and interest payments to stay the same, despite fluctuations in the mortgage market.

Low Down Payment, Low Reserves: With the FHLMC Home Possible loan, borrowers can buy a home for as little as 3% down for 1-4 unit primary residences.

FHLMC Home Possible Basics

  • Designed to help low- and moderate-income households obtain homeownership through affordable financing without having to make a large down payment
  • 620 minimum qualifying credit score for all qualifying borrowers
  • Max LTV up to 97%, TLTV up to 105%
  • 15, 20, 25 and 30 year fully amortizing fixed rate terms available
  • Available for purchase or no cash out refinance

The Home Possible Mortgage Loan Process

Here’s how our home loan process works:

  • Complete our simple FHLMC Home Possible Mortgage Qualifier
  • Receive options based on your unique criteria and scenario
  • Compare mortgage interest rates and terms
  • Choose the mortgage loan offer that best fits your needs

If purchasing a home, you can now start shopping with confidence with an Elite Realtor to find your perfect home.

FHLMC Home
Possible
Basics

  • Designed to help low- and moderate-income households obtain homeownership through affordable financing without having to make a large down payment
  • 620 minimum qualifying credit score for all qualifying borrowers
  • Max LTV up to 97%, TLTV up to 105%
  • 15, 20, 25 and 30 year fully amortizing fixed rate terms available
  • Available for purchase or no cash out refinance

The Home Possible
Loan Process

Here’s how our home loan process works:

  • Complete our simple FHLMC Home Possible Mortgage Qualifier
  • Receive options based on your unique criteria and scenario
  • Compare mortgage interest rates and terms
  • Choose the mortgage loan offer that best fits your needs

If purchasing a home, you can now start shopping with confidence with an Elite Realtor to find your perfect home.

Get Your FREE Loan Quote Now!

Get Your FREE
Loan Quote Now!

Whether you’re buying a new home, refinancing, looking for a cash-out, or just have questions about the process, our Elite Team of Mortgage Professionals will help you find the right mortgage solution!

Whether you’re buying a new home, refinancing, looking for a cash-out, or just have questions about the process, our Elite Team of Mortgage Professionals will help you find the right mortgage solution!

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