Wisconsin and Illinois Freddie
Mac Home Possible Mortgage Loans
Home Possible is a Freddie Mac program that has very flexible credit guidelines
for low to moderate income borrowers. It's available to purchase or refinance
a single-family home, condominium, or a 2–4 family home.
If you need some help to overcome obstacles to homeownership such as, having
a non-traditional credit history or lacking of funds for a down payment,
or just needing extra credit flexibility, we offer affordable financing
solutions for qualified borrowers who want to purchase or refinance a home.
- No minimum contribution from borrower's own funds (one-unit)
- Up to a 40-year term and options for initial interest-only period
- Eligible for Community Seconds or standard subordinate financing
- Available for 2, 3 or 4-unit properties for borrowers who want to
live in one unit and rent out the others
- Competitive rates
- Choose a fixed rate or an ARM if you don't plan on being in the
home for long
- Nontraditional credit allowed, low credit scores or no credit history
-
Lender paid mortgage insurance (LPMI) is available with this program
- PMI required for loans over 80% LTV but at a reduced rate - except
in cases where LPMI is used
- Borrowers must be at or below median area income limits to qualify
- Not just for the
first time homebuyer
- Available for purchases and rate and term refinances
Median area income limits applies and can be checked on Freddie Mac's
website:
Median Income Limits
Other programs that may be of interest:
My Community
Mortgage
Rural Housing
FHA Loans
VA Home Loans
Lender Paid Mortgage Insurance
100% Financing
Programs
Current Wisconsin and Illinois
Mortgage Rates Please call
or
email us for current Home Possible rates
All Wisconsin
and Illinois Mortgage Programs
100% Financing (No Money Down) Programs
First Time Home Buyer Mortgage Programs
My Community Mortgage
Government Loans including
FHA, VA
and
Rural Housing
Wisconsin Refinance Illinois Refinance Programs
About Us
Apply or
Pre-qualify Online
Contact Us
Recent Home Possible posts on our blog:
Home Possible Loans
April 7th, 2008
The Home Possible mortgage can help people obtain mortgages in underserved
areas as well as assist immigrants, retirees and first time homebuyers in
attaining home ownership. The Home Possible mortgage offers greater flexibility
than many traditional mortgages offered by other lenders.
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