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Home Possible
Home Possible is a responsible, 3%-5% down solution for low-to moderate-income homebuyers or buyers in high-cost or underserved communities.
Program Benefits
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Low Down Payment. Up to 97% financing.
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Fixed-rate mortgages only.
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No minimum borrower contribution for 1-unit primary residence.
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No income limits in underserved areas.
Property Types
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1-unit single-family primary residence, including condo and planned-unit-development (no manufactured) Loan-to-Value less than or equal to 97%.
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2-4 Units Loan-to-Value less than or equal to 95%
Program Eligibility
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No first-time homebuyer requirement, but homebuyer education is required for at least one borrower when all borrowers are first-time homebuyers, or when property is 2-4 unit primary residence.
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Lower-cost mortgage insurance (MI) at 25%; lender-paid MI is an available option.
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Can be used for purchase and no-cash-out refinancing.
Contact us today to see if a Home Possible Loan could help make your homeownership dream a reality.
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