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As little as 3% down
HomeReady / Home Possible
Income-driven conventional programs from Fannie Mae and Freddie Mac, designed to help moderate-income buyers purchase with as little as 3% down.
HomeReady (Fannie Mae) and Home Possible (Freddie Mac) are conventional loan programs built specifically for buyers with moderate income. Both allow down payments as low as 3%, and both consider income limits based on where the property is located.
These programs can also offer more flexibility with sources of down payment funds, and reduced mortgage insurance costs compared to some other low-down-payment options. They can be a great fit for first-time buyers who don’t qualify for or want a government-backed loan.
Ready to see if HomeReady / Home Possible is the right fit for you?