Use this tool to verify if a borrower can qualify for a Freddie Mac Home Possible ® mortgage based on the property location and the borrowers' qualifying income. For best results, enter the complete property street address.

Borrowers without a credit score can qualify for a Home Possible mortgage, provided the LTV/TLTV/HTLTV ratio for the mortgage does not exceed 95 percent. Sellers can qualify such borrowers in one of the following ways: Through Loan Product Advisor ®, if they meet requirements in Guide Section 5201.1: Credit assessment with Loan Product Advisor.

During the loan application process, you'll work with your lender to determine your eligibility for a mortgage, folding in the terms of your loan, property details, down payment and other factors. If you qualify, you'll then discuss the terms and all the costs associated with the loan.

Use the Home Possible Income & Property Eligibility Tool to see income limits for specific properties or submit to Loan Product Advisor® to determine Home Possible income eligibility. Low down payment with a maximum of 97% LTV, 105% TLTV with Affordable Seconds®, and 97% HTLTV for 1-unit properties.

If you qualify for a loan, you'll receive a pre-approval in writing that outlines the maximum amount you can borrow. Remember, it's a maximum, and not necessarily the amount you should borrow. You'll want to stay within your budget and comfort level.

Aug 31, 2023 · Like all mortgages, the Freddie Mac Home Possible program has a set of qualifications that you must meet in order to be eligible for the loan. These include: The home must be used for at...

Begin by determining how much you can aford, based on your spending plan and comfort level. One of your first steps should be to talk to a homeownership education counselor.

Dec 30, 2022 · If you are a first-time homebuyer or have a lower income, you may wonder what programs are available to help you achieve homeownership. Fortunately, with Freddie Mac’s Home Possible Program, borrowers that meet certain income guidelines can …

Jul 16, 2024 · Freddie Mac’s Home Possible® mortgage offers 3% down for moderate-income buyers, with flexible benefits like reduced rates and mortgage insurance. Eligible for buyers with income at or below 80% of the area median; must intend to live in the home, with education required for first-time buyers.

Freddie Mac’s Home Possible program allows first-time and repeat home buyers who have low to moderate incomes to qualify for a mortgage loan. The program offers several benefits to make homeownership more attainable.