Home Possible: Built for First Steps.
Freddie Mac’s Home Possible helps low- to moderate-income buyers own a home with a low down payment and reduced mortgage insurance.*
Quick answer
Saxton Mortgage does. At least one Home Possible program we offer finances a one- to four-unit primary residence when your qualifying income is at or below 80% of the area median income for the home’s location. Borrowers with no credit score can be eligible when Freddie Mac requirements are met, and a home with an accessory unit, stick built or manufactured, may be acceptable.
An affordable path to owning.
Home Possible is a Freddie Mac program for buyers whose income sits under an area limit.
- Qualifying income at or below 80% of area median income
- Primary residence only, for a purchase or no cash-out refinance
- Single-family homes, two to four units, condos and PUDs eligible
- Affordable Seconds can sit behind the first mortgage*
- Gifts or grants from the lender count as eligible funds*
- No more than two financed properties, including the new home
Income limits tied to your area
Homebuyer education for first-time buyers
Accessory units on one to three units*
An LPA Accept is required*
A single year of returns may do*
Employer assistance is eligible
What is the Saxton Home Possible?
Freddie Mac’s affordable home loan for income-eligible buyers
The Saxton Home Possible is a full-featured mortgage that is Freddie Mac’s affordable conventional program, with a low down payment and reduced mortgage insurance for income-eligible buyers.
Only qualifying income is measured against the limit. Loan Product Advisor reports whether you meet it during underwriting, and a census tract lookup tool can confirm eligibility before you apply.
If all occupying borrowers are first-time buyers, one of them must complete a homeownership education course before the note date. Courses from HUD-approved counseling agencies, housing finance agencies and CDFIs qualify, and so does Freddie Mac’s free CreditSmart curriculum*.
Why choose the Saxton Home Possible?
Built for buyers whose income falls within the local limit.
$2,500 Grant At Lower Incomes
If your qualifying income is at or below 50% of area median income and the household includes an occupying first-time homebuyer, one program offers a $2,500 grant on a purchase*. It runs through February 2027.
Income-Eligible Buyers
Built around area income limits to open the door for more first-time and repeat buyers.
Cash Savings Can Qualify
If you do not typically use bank accounts, cash on hand can count toward closing costs and reserves at one program*. It must be deposited in a financial institution or escrow account before closing.
Refinances Require Continuity
A Home Possible refinance needs a link to the old loan: a borrower who was on it, or one who held title, lived there and paid every installment on time over the last 12 months, or inherited the home*.
Reduced Mortgage Insurance
Home Possible offers reduced mortgage insurance compared with standard conventional loans.*
Income Limits Apply
Eligibility is tied to the area median income where you are buying.
Hear From Homeowners Like You
Frequently Asked Questions
Home Possible answers on income limits, credit, condos, duplexes, renovation and roommate rent.
Saxton Mortgage does. At least one Home Possible program we offer finances a one- to four-unit primary residence when your qualifying income is at or below 80% of the area median income for the home’s location. Borrowers with no credit score can be eligible when Freddie Mac requirements are met, and a home with an accessory unit, stick built or manufactured, may be acceptable.
Yes. One program lets every borrower go without a credit score as long as Freddie Mac and Loan Product Advisor requirements are met*. When credit is built only from noncredit payment references, homeownership education is required on a purchase.
Yes, but only on a one-unit property. One program limits non-occupant co-borrowers to one-unit homes*, so a duplex purchase needs every borrower living there. Their separately owned financed properties are left out of the two-property count.
Yes. Properties with two to four units are eligible when one unit is your primary residence. On that kind of purchase, one qualifying borrower has to complete a landlord education program from a HUD-approved counseling organization before closing*. Learn more about Cash-out refinancing.
Yes, at one program. Housing Choice Voucher Homeownership Program income paid through Housing Assistance Payments is an acceptable source*. Like other qualifying income, it counts toward the area income limit.
Yes, condos are an eligible property type. At one program, non-warrantable condominiums and condotels are not allowed*, so the project has to meet agency standards. We check the building early so there are no surprises late in the process.
No. One program bars a Home Possible mortgage from also being a construction conversion or renovation mortgage*. If the house needs work financed into the loan, ask us about renovation programs as a separate option.
Yes. One program counts boarder rent when the boarder has lived with you for the past 12 months and will keep living with you*. Boarder income cannot exceed 30% of your total qualifying income, and canceled checks must cover at least 9 of the past 12 months.
Find out what you qualify for
Ask a loan officer to compare your income with your county’s limit and confirm whether homebuyer education applies to you.
Get Pre-Qualified- Freddie Mac, Home Possible
- Consumer Financial Protection Bureau, buying a house: tools and resources for homebuyers
*Loan amounts, rates, terms, and down payment requirements are subject to credit approval, income and asset verification, and program eligibility. Loan limits follow the annual conforming limits set by county. Down payment and cash-out limits vary by occupancy, credit score, and documentation type. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.