Home Possible Mortgage – Up to 97% Financing
Home Possible® mortgages is a mortgage program offered by Freddie Mac. Home Possible is a responsible, 3% to 5% down payment solution for low-to moderate-income homebuyers or buyers in high-cost or underserved communities.
Program Benefits:
- Low down payment. Up to 97% financing
- Fixed-rate mortgages only
- No minimum borrower contribution for 1-unit primary residence
- No income limits in underserved areas
Program Eligibility:
- 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
- Lower-cost mortgage insurance (MI) at 25%; lender-paid MI is an available option
- Can be used for purchase and no-cash-out refinancing
Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.
If you are looking to buy or sell your home in Phoenix AZ and surrounding area, we hope you will consider us. Contact us today for complimentary consultation.
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