Some mortgage loan programs require you to put anywhere from 10 to 20% down on a home, have a preferred credit score, and meet strict income requirements. Verify your home buying eligibility (Oct 8th, 2021) So it can be ideal for many first-time buyers who need an extra boost. The Home Possible mortgage program requires as little as 3% down and has looser lending requirements than some other loan types. If you’re dealing with any of these roadblocks, a Freddie Mac Home Possible loan could be the perfect solution. You might be worried about buying a house with low income or saving for a down payment. Today’s home buyers face plenty of obstacles.
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