The eligibility and documentation requirements apply to all funds used to qualify the Borrower for the Mortgage transaction, including reserves. Any limitations on the use of an asset type are specified in the chart.

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.

5 Things You Should Know About the Freddie Mac Home Possible ® Mortgage. Home Possible ® responsibly offers qualified very low- to low-income borrowers a low, 3% down payment financing option. Borrowers can have additional financed properties. Non-occupant co-borrowers may help borrowers qualify for a 1-unit property.

Freddie Mac's requirements for manufactured homes are designed so that the mortgages we purchase are originated, underwritten and serviced to help qualified borrowers buy homes they can both afford and maintain.

• Freddie Mac offers two tools that make it easy to determine if your borrower meets the income requirements: Loan Product Advisor determines product eligibility and our map-based Home Possible Income and Property Eligibility tool allows you to look up Home

Feb 5, 2024 · All requirements of the Guide apply, except as otherwise stated in the chart below. For Manually Underwritten Mortgages, the Seller must use the Home Possible ® Income & Property Eligibility tool.

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.

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.

The Home Possible program only requires a 3% down payment and has more flexible borrower requirements than other mortgage options. Let’s go over what the Home Possible mortgage program is and how to qualify.

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...