This program helps the borrower capitalize on opportunities to meet their home financing needs. Borrowers looking for low down payments and flexible sources of funds, including first time homebuyers, move up borrowers, retirees, families in underserved areas, new immigrants and others. You?ll also offer greater flexibilities to those who serve our communities so well - like teachers, firefighters, healthcare workers and law enforcement officers.
These programs usually have a reduced Private Mortgage Insurance (PMI) requirement. That means a lower total payment for you.
Home Possible is a Freddie Mac based product so many lenders have access to this program. Ask your lender if Home Possible is the right program for you.
Many conventional lenders offer special programs and rates to people that serve within the communtiy. Each lender has a different name for the program. You should ask your mortgage professional if you qualify for any such programs.
