Home Possible Mortgage

Home Possible Mortgage program is geared towards first-time homebuyers, move-up borrowers and retirees; families in underserved areas; very low and low- to moderate-income borrowers. It provides stable monthly payments with fixed-rate mortgages. Flexible sources of funds can be used for down payment and closing cost. Reduced mortgage insurance coverage levels for LTV ratios greater than 90 percent. Minimum down payment of 3 percent allowed for Home Possible Advantage