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Home Possible Mortgage Program

offering flexibility

At Quintessential Mortgage Group, we understand the importance of finding the right financing for your home purchase. One of the programs we offer is the New Home Possible Mortgage Program. This Freddie Mac-backed program helps individuals and their families secure a new home purchase with flexible credit terms and low down payment requirements.

A good choice for residences

The Home Possible Mortgage Program works perfectly if you have very few funds for a substantial down payment. The program is both flexible and offers a no-limit income if the property you wish to purchase is in a low-to-moderate income area. Freddie Mac also provides you with a free online tutorial offering education about the home-buying process if you are a first-time homebuyer. If you are a past homeowner who wishes to re-enter the market or a millennial looking to make your first home purchase, this program is ideal for you. Some highlights include: 

  • Owner-occupied primary residences qualify.
  • The Home Possible Program offers significantly reduced mortgage insurance requirements.
  • Eligible for several fixed-rate terms. Gift funds do not require repayment.
  • Employer-assisted homeownership benefits are eligible.
  • Rental income is eligible from boarder homes on one-unit residential primary residences.
  • First-time homebuyers, move-up borrowers, and low to moderate-income borrowers are eligible for the program.

 

We know that taking a loan can be a great undertaking for anyone and we make sure to work with our borrowers so that they properly understand the details. If you have any questions, please contact our team today and learn more if the Home Possible Mortgage program is right for you. 

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