Home Possible Advantage Loan Program

Why Choose The New Home Possible Advantage® Program? A responsible, low down payment mortgage option for first-time homebuyers and low- and moderate-income borrowers.

When it comes to providing the greatest flexibility and mortgage options for low- or moderate-income homebuyers, Home Possible Advantage® is at the top of the list. Also perfect for first-time homebuyers, millennials and other underserved consumers, Home Possible Advantage helps put more qualified customers on the path to successful homeownership.

The Highlights:

Ideal For:
- First-time homebuyers, move-up borrowers, and retirees.
  - Families in underserved areas.
    - Very low-, low- and moderate-income borrowers.
Key Features:
- Purchase and no cash out refinancing.
- Maximum 97 percent LTV and 105 percent TLTV ratios for Home Possible Advantage.
- Mortgage insurance options.
- Loan Product AdvisorSM or manual underwriting.
- No reserves required for 1-unit properties.
- Maximum credit fee in price of 1.5 percent.
Borrower Benefits
- Stable monthly payments with fixed-rate mortgages.
- Flexible sources of funds for down payment.
- Reduced mortgage insurance coverage levels for LTV ratios greater than 90 percent.
- Minimum down payment of 3 percent allowed for Home Possible Advantage.