Wisconsin and Illinois
Freddie Mac Home Possible Mortgage Loans
Home Possible is a Freddie Mac program that has very flexible
credit guidelines for low to moderate income borrowers. It's available to
purchase or refinance a single-family home, condominium, or a 2–4 family
home.
If you need some help to overcome obstacles to homeownership such as,
having a non-traditional credit history or lacking of funds for a down
payment, or just needing extra credit flexibility, we offer affordable
financing solutions for qualified borrowers who want to purchase or
refinance a home.
- No minimum contribution from borrower's own funds (one-unit)
- Up to 97% financing - one loan
- Up to a 40-year term and options for initial interest-only
period
- Eligible for Community Seconds or standard subordinate financing
- Available for 2, 3 or 4-unit properties for borrowers who want to
live in one unit and rent out the others
- Competitive rates
- Choose a fixed rate or an ARM if you don't plan on being in the
home for long
- No minimum borrower contribution
- Nontraditional credit allowed, low credit scores or no credit
history
-
Lender paid mortgage insurance (LPMI) is available with this
program
- PMI required for loans over 80% LTV but at a reduced rate - except
in cases where LPMI is used
- Borrowers must be at or below median area income limits to qualify
- Not just for the
first time homebuyer
- Available for purchases and rate and term refinances
Median area income limits applies and can be checked on Freddie Mac's website: Median Income Limits
Other programs that may be of interest:
My Community Mortgage
Rural Housing
FHA
Loans
VA Home Loans
Flex 100 and Flex 97
Lender Paid Mortgage Insurance
100%
Financing Programs
Current Wisconsin and Illinois
Mortgage Rates Please call
or
email Ameristar for current
Home Possible rates
All Wisconsin
and Illinois Mortgage Programs
100% Financing (No Money Down) Programs
First Time Home Buyer Mortgage Programs
My Community Mortgage
Government Loans including
FHA, VA and
Rural Housing
Wisconsin
Refinance Illinois Refinance Programs
About Ameristar Mortgage
Apply or Pre-qualify
Online
Contact Ameristar
Mortgage
Recent Home Possible posts on our blog:
Home Possible Loans
April 7th, 2008
The Home Possible mortgage can help people obtain mortgages in
underserved areas as well as assist immigrants, retirees and first time
homebuyers in attaining home ownership. The Home Possible mortgage
offers greater flexibility than many traditional mortgages offered by
other lenders.
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