Home Possible Advantage Loan

Ready to buy a home but don’t have a lot of money to put towards a down payment. With Freddie Mac’s Home Possible Advantage, you can finance up to 97% of the value of the home and use gift funds (e.g. money from relatives), employer assistance programs, and secondary financing to help cover the 3% down payment and closing costs.

Why Home Possible Advantage?

The primary reason why people choose this program is for the low down payment and flexible sources for covering the down payment and closing costs.

There are some other big selling points for Home Possible Advantage including the ability to cancel mortgage insurance once the loan balance drops below 80%. And, the minimum credit score requirement is lower than some other low money down products.

Additional Features Include

• Minimum 3% down required
• Borrower may use gift funds, employer assistance and secondary financing to help cover the down payment and closing costs
• Mortgage insurance may be canceled once loan balance drops below 80%
• Fixed rate mortgages
• Primary residences only
• Additional flexibilities for teachers, firefighters, law enforcement, healthcare workers, and members of the US Armed Forces
• Terms and restrictions may apply. Call us for details.