The Blog

Home Possible Mortgage (Freddie Mac)

Home Possible Advantage: 
97% LTV

  • LTV: Maximum LTV of 97 percent; TLTV 105 percent.
  • Property Options: 1-unit properties, condos, and planned unit developments; manufactured homes are not eligible.
  • Flexible Sources of Down Payments: Down Payment can come from a variety of sources, including family, employee-assistance programs, and secondary financing.
  • Cancellable Mortgage Insurance (video): Mortgage insurance (MI) can be canceled after loan balance drops below 80 percent of the home’s appraised value.
  • Stable Mortgages: Fixed-rate mortgages with a term of up to 30 years.
  • Refinance Flexibility (video): Purchase and no cash-out refinancing options available.
  • Income Flexibility (video): Borrowers with incomes above AMI may be eligible in high-cost areas. No income limits in underserved areas. Use the Home Possible Income & Property Eligibility Tool to see income limits for specific properties.
  • Primary Residence Only: All borrowers must occupy the property as their primary residence.

Home Possible: 
95% LTV

  • LTV: Maximum LTV and TLTV of 95 percent.
  • Property Options (video): 1-4 units, condos and planned-unit developments; manufactured homes are eligible with certain restrictions.
  • Flexible Sources of Down Payments:Down Payment can come from a variety of sources, including family, employer-assistance programs and secondary financing.
  • Cancellable Mortgage Insurance (video): Mortgage insurance (MI) can be cancelled after loan balance drops below 80 percent of the home’s appraised value.
  • Mortgage Flexibility: 15- to 30-year fixed-rate mortgages, 5/1, 5/5, 7/1 and 10/1 ARMs.
  • Refinance Options (video): No cash-out refinancing option is available for borrowers who occupy the property.
  • Income Flexibility (video): Borrowers with incomes above AMI may be eligible in high-cost areas. No income limits in underserved areas. Use the Home Possible Income & Property Eligibility Tool to see income limits for specific properties.
  • No Credit Score Necessary (video):Borrowers without credit scores are eligible for mortgages with down payments as low as five percent. Learn more. [PDF]