Home Possible® Loans

achieving your dream of homeownership is possible

The Home Possible® mortgage loan program was designed to bring homeownership within reach to more borrowers. This means you! Tailored specifically to low- and moderate-income homebuyers, Home Possible® only requires a down payment of as little as 3%, making it easier to get into the home of your dreams

Did you know?
A $2,500 closing cost credit is available with this loan program, for eligible homebuyers.

program details

  • 3% down payment required for single-unit. primary residence
  • 5% down payment required for 2-4-unit. primary residence
  • FICO as low as 620
  • No first-time homebuyer requirement
  • Income limits apply — ask your loan originator for details

why should i buy a house?

While you don’t have to be a first-time homebuyer to qualify for a Home Possible® home loan, many first-time homebuyers do utilize this low-down-payment mortgage program. If you’ve never owned a home before, you might be thinking, “why should I buy a house?”

There can be benefits of renting, of course, but the perks of owning a home tend to be beneficial overall .

  • Build wealth – The amount you’re paying in living expenses each month would go toward your own net worth, not your landlord’s.
  • Stability – Gone are the days of signing a new lease every year, wondering if your rent will increase and by how much. When you own a home, you know exactly what to expect for the entire length of your mortgage.
  • Creative freedom – Your home is all yours to do exactly what you want with it. Whether that means painting an accent wall, updating the carpets, or hanging shelves – whatever it is, you have the freedom to make it happen (without asking the permission of a landlord).

All loan requests are subject to credit approval as well as specific loan program requirements and guidelines.