Home Possible Mortgage

Home Possible Mortgage is a loan option designed for low-to-moderate income homebuyers, offering flexible terms and lower down payment requirements—often as low as 3%. It allows for a broader range of property types and offers competitive interest rates. The program aims to make homeownership more accessible by reducing upfront costs, making it easier to qualify for a mortgage. Typically, it is used with Fannie Mae-backed loans and requires that applicants meet certain income and purchase price limits. Overall, it provides an affordable path to owning a home without the need for a large initial payment.