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]
