Home Possible® is a Freddie Mac program designed to help borrowers with low-to-moderate incomes fulfill their dream of owning a home. It offers low down payments and has easier credit score requirements.
This program has other unique guidelines and options. For example, you could qualify for an Affordable Second – a secondary loan from a nonprofit group or a state or county agency, giving you access to more funding.
Down payments of as low as 3%.
Credit scores as low as 620 are accepted.
Fixed-rate financing for easier budgeting.
Several property types are allowed, including single-family homes, 2-4 unit properties, modular homes, condominiums and homes in Planned Unit Developments (PUDs).
Temporary buydowns can reduce your starting interest rate for 1-2 years.
Update the information below to estimate your monthly payment
Private Mortgage Insurance typically costs between 0.5% to 1% of the entire loan amount over 80% LTV on an annual basis.
Monthly Principal & Interests : $1145.80
Monthly Real Estate Taxes : $316.67
Monthly Insurance : $66.67
Monthly PMI : $0.00
Total Monthly Payments : $1529.13
Loan To Value Ratio : 80.00%
Months With PMI : 0 months