Buy your primary home with as little as 3% down, flexible income sources, and cancellable PMI — Freddie Mac’s affordable conventional path for income-eligible buyers.
Why buyers choose it
Home Possible lowers the cash barrier of a traditional conventional loan without locking you into FHA mortgage insurance for the life of the loan. Ryan and Steve underwrite through Luminate Bank so your AMI, income mix, and VLIP eligibility are checked before you write an offer.
Freddie Mac conventional financing with a low cash requirement — keep more reserves after you get the keys.
Unlike FHA MIP, Home Possible mortgage insurance can cancel once you reach the equity milestones.
Boarder income, accessory unit rent, overtime, part-time, and non-occupant co-borrowers can strengthen your file.
Eligible Indiana buyers can stack a $2,500 VLIP credit with Home Possible through February 28, 2027.
At a glance
Guidelines update with Freddie Mac selling guides. The snapshot below is educational — your pre-approval uses current overlays for credit, AMI, and property type.
Answer a few quick questions about occupancy, income, credit, and down payment — we will screen you against Home Possible guidelines and flag VLIP grant pairing when it applies.
Check My EligibilityHome Possible advantage
Many buyers qualify on paper once every income stream is counted correctly. Home Possible is designed for multi-generational households, side income, and rental potential on the same property.
Documented rent from a boarder living in the home can count toward qualifying income.
Rental income from a legal accessory unit on the property may be used when guidelines are met.
Variable and secondary income can qualify when history and documentation support continuity.
A parent or relative who will not live in the home can help you qualify while you occupy as your primary residence.
Stack more savings
Very Low Income Purchase (VLIP) grants can add a $2,500 credit toward down payment, closing costs, pre-paids, or mortgage insurance — when household income is at or below 50% AMI and at least one borrower is a first-time buyer.
Grant amount
$2,500 toward cash to close
Income target
≤ 50% Area Median Income
Buyer status
At least one first-time homebuyer
Available through
February 28, 2027
If your income qualifies and you are buying a home to live in, Home Possible is often the cleanest Freddie Mac path to low-down conventional ownership — especially when FHA MIP would cost more over time.
Start Pre-ApprovalIncome-eligible first-time buyers
Ready to buy with limited cash but strong enough credit for conventional pricing.
Multi-generational households
Families who share housing costs and can document boarder or co-borrower support.
Buyers comparing FHA vs conventional
Anyone who wants cancellable PMI and may qualify for VLIP on a Freddie Mac loan.
1–4 unit owner-occupants
Purchase a duplex, triplex, or fourplex as your primary residence when guidelines allow.
Mortgage Knowledge Center
Deep-dive guides covering eligibility, education, documents, PMI, multi-unit purchases, and Home Possible vs HomeReady vs FHA.
Ryan and Steve will check your AMI eligibility, model Home Possible vs HomeReady vs FHA, and see if a VLIP grant lowers your cash to close even further.
Home Possible is a registered trademark of Freddie Mac. All loans are subject to credit and property approval. Program guidelines, income limits, and pricing are subject to change without notice and may not be available in all areas. This website is not affiliated with or endorsed by Freddie Mac, HUD, or any government agency. Information is for educational purposes only and is not a commitment to lend.