Using A Co-Signer? There's A Mortgage Loan For You.
Home Possible® is a low-down payment mortgage loan. It's backed by government mortgage agency Freddie Mac.
Home Possible lets home buyers make a 3 percent down payment with access to reduced fees and lower-than-average interest rates.
Home Possible is popular because it gives home buyers:
- Access to government-subsidized interest rates
- Ability to buy a home with a 3% down payment
- Ability to use boarder income to help with approval
Home Possible is terrific for co-signer situations.
Home Possible lets parents and children buy a home together, regardless of residence. Lenders call this a non-occupant co-borrower.
Also, when you use Home Possible and show a good credit rating, interest rates can be reduced by up to a half-percentage point.
Home Possible isn’t available to everyone. Freddie Mac only makes the program available in average- or low-income neighborhoods; and, to buyers whose household income is below the average for an area.
Ask us your Home Possible question in the chat. We're here to help.