Easier qualifying and lower costs make homeownership possible for buyers with low-to-moderate incomes

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.

Key Features and Benefits: 

• 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.

• Co-borrowers who do not live in the home can be included in a one-unit residence. 
• Homebuyer education is required for first-time buyers. 
• Down payments as low as 3% depending on your loan amount.