Make Homeownership More Possible.
A Home Possible mortgage offers eligible buyers a flexible conventional financing option with a low down payment and features designed to make homeownership more accessible.
A Flexible Path to Homeownership
Freddie Mac's Home Possible mortgage is a conventional loan program designed to help eligible low- and moderate-income borrowers purchase a home with greater flexibility.
With financing available up to 97% of the home's value, eligible buyers may be able to purchase with as little as 3% down. Home Possible can also offer flexible sources for down payment funds and reduced mortgage insurance compared with certain standard conventional financing options.
Whether you're purchasing your first home or looking for a conventional alternative to FHA financing, Home Possible may provide a more affordable path forward.
At a Glance
| Down Payment | As low as 3% |
| Program | Freddie Mac Home Possible |
| Maximum LTV | Up to 97% |
| Occupancy | Primary residence |
| Mortgage Insurance | Required when applicable, with reduced coverage options |
Who Home Possible May Be Right For
Home Possible may be worth exploring if you're looking for conventional financing but want greater flexibility with the upfront costs of purchasing a home.
- Buyers With Limited Down Payment Funds
- Low- to Moderate-Income Homebuyers
- First-Time and Repeat Buyers
- Buyers Considering an FHA Alternative
Important Considerations
Income Eligibility Applies
Home Possible generally limits qualifying income to 80% of the Area Median Income for the property's location. The applicable limit can vary by location.
The Property Must Qualify
Property type, occupancy and other eligibility requirements apply. Home Possible can accommodate several eligible property types, subject to program guidelines.
Mortgage Insurance May Apply
When financing more than 80% of a home's value, mortgage insurance is generally required. Home Possible offers mortgage insurance provisions specifically designed for the program.
Qualification Is Based on the Complete Loan Profile
Income, credit, debt, assets, property eligibility and other underwriting requirements are considered when determining eligibility.
Explore Related Loan Programs
Conventional Loans
Traditional conventional financing with a variety of down payment and term options.
LEARN MOREFHA Loans
Government-backed financing offering flexible qualification and low-down-payment options.
LEARN MORECommon Questions
No. Home Possible may be available to eligible first-time homebuyers as well as certain repeat buyers who meet program requirements.
Eligible Home Possible purchase transactions may allow financing up to 97% of the home's value, which can mean a down payment as low as 3%.
Potentially, yes. Home Possible is not exclusively a first-time homebuyer program. Eligibility depends on the borrower's circumstances and applicable program requirements.
See What Options May Work for You
A low down payment could put homeownership closer than you think. Let our team review your goals and help you compare Home Possible with other financing options available to you.
