Unlock your path to a new home with flexible funding options and reduced mortgage insurance for low‑ to moderate‑income buyers.
Verify Your Home Possible Loan Program Eligibility
The Home Possible® Loan Program from Freddie Mac makes it easier for people with low or moderate income to buy a home.
With a down payment as low as 3%, this program helps families who don’t have a lot saved up. It also allows you to use gifts, grants, or other assistance to cover part of your down payment and closing costs.
Unlike many other loans, Home Possible® also comes with lower mortgage insurance costs and flexible rules for income, so more buyers can qualify.
You can use it for a single-family house, condo, townhouse, or even a 2–4 unit home you live in.
Whether you’re a first‑time or repeat buyer, the Home Possible® mortgage helps you get into a home sooner by allowing gifts, grants, and affordable second loans toward your down payment and closing costs.
| Buyer Type | Why Home Possible® Helps |
|---|---|
| First-Time Homebuyers | Buy with just 3% down, even with limited savings. |
| Young Professionals | Qualify with steady income, even if your credit history is short. |
| Families on a Budget | Lower monthly payments and flexible down payment sources make ownership affordable. |
| Multi-Generational Buyers | Use boarder or rental income to help qualify for a larger home. |
| Single Parents | Reduced mortgage insurance and low down payment keep costs manageable. |
| Community Heroes | Teachers, nurses, police officers, and essential workers often meet income limits and benefit from affordable terms. |
The Home Possible® mortgage offers many advantages that make buying a home more affordable and less stressful.
Low down payment – Buy a home with as little as 3% down.
Flexible sources of funds – Use gifts, grants, or down payment assistance to help cover costs.
Lower monthly mortgage insurance – Pay less each month compared to standard loans.
Credit flexibility – Buyers with limited credit history may still qualify.
Boarder and rental income allowed – Count income from a roommate or rental unit to help you qualify.
Multiple property types – Works for single-family homes, condos, townhouses, and even 2–4 unit homes you live in.
Refinance option – Current homeowners may also use Home Possible® to refinance and save.
This program is built to make homeownership possible for more families by lowering upfront costs and making it easier to qualify.
To qualify for the Home Possible® loan, you’ll need to meet the following conditions:
Your total qualifying income must be at or below 80% of the Area Median Income (AMI) for your location.
A minimum credit score of 620 is typically required.
Your monthly debts, including your new mortgage, should usually stay under 43% of your income.
You must plan to live in the home as your primary residence within 60 days of closing.
First-time or repeat buyers may qualify. If all borrowers are first-time buyers, a homeownership education course is required.
Borrowers must have a valid Social Security number and be a U.S. citizen, permanent resident, or eligible non-permanent resident with approved documentation.
The Home Possible® loan is designed for buyers with low to moderate income.
Your total income must be at or below 80% of the Area Median Income (AMI) where the home is located.
Freddie Mac provides a free Income & Property Lookup Tool so you can check the limit for your exact address.
Example: If the AMI in your county is $100,000, you may qualify if your household income is $80,000 or less.
There’s no fixed home price cap. Instead, Home Possible follows national conforming loan limits.
For 2025, the loan amount limit is - $806,500 for a one-unit home in most areas and Up to $1,209,750 in designated high-cost areas.
Multi-unit homes (2–4 units) have higher limits.
Check Your Eligibility Online - See if you qualify in just a few minutes — it’s free.
Collect Your Info - You’ll need pay stubs, tax forms, an ID, and bank statements.
Apply with a Lender - Work with a Freddie Mac–approved lender to submit your application.
Get Approved & Close - Your lender finalizes the loan, and you sign at closing.
Move Into Your Home - Congratulations — you’re a homeowner!
Here are answers to the most common questions about the Home Possible® mortgage so you can quickly understand how it works.
Borrowers with incomes at or below 80% of the Area Median Income (AMI) may qualify if they meet credit and occupancy rules.
You can buy a home with as little as 3% down.
Yes — gifts, grants, and down payment assistance programs are allowed.
Most lenders require a minimum score of 620 to qualify.
Single-family homes, condos, townhomes, manufactured homes (with conditions), and 2–4 unit properties you live in.
No — both first-time and repeat buyers can qualify.
Yes — if all borrowers are first-time buyers, at least one must complete an approved homeowner education course.
Your income must be ≤ 80% of AMI for the home’s location. Use Freddie Mac’s eligibility tool to check.
The baseline loan limit is $806,500 for a one-unit home, higher in certain high-cost areas (up to $1,209,750).
Start by checking your eligibility online, then work with a Freddie Mac–approved lender to apply and close on your loan.
Our team has years of experience helping first-time and repeat buyers take advantage of programs like Home Possible®.
We understand the details, the paperwork, and the rules that can feel overwhelming when you’re trying to qualify on your own.
With our guidance, you’ll:
Understand your options and how Home Possible® compares to other low down payment loans.
Avoid common mistakes that can slow down or block your approval.
Get personalized advice based on your income, credit, and goals.
Work with experts who know how to navigate Freddie Mac guidelines smoothly.
Whether you’re just starting to explore homeownership or you’re ready to apply, we’ll walk you through every step until you have the keys in your hand.
