Home Possible Mortgage

Unlock Your Dream Home with Home Possible®

At Capital City Mortgage, we believe that homeownership should be within reach for everyone, especially first-time homebuyers and individuals with low to moderate incomes. If you’ve been dreaming of owning a home but are concerned about high down payments and strict mortgage requirements, the Freddie Mac Home Possible® Mortgage Program is designed for you. This program offers flexible financing solutions that make homeownership more affordable and accessible.

What is Home Possible®?

The Home Possible® mortgage is a loan program backed by Freddie Mac that provides an affordable path to homeownership for eligible borrowers. It is specifically designed for first-time homebuyers, low- to moderate-income families, and those looking for a low down payment option. With competitive interest rates and flexible funding sources, Home Possible® helps buyers achieve their homeownership goals with ease.

Key Benefits of Home Possible®

1. Low Down Payment Requirements

One of the biggest obstacles for many homebuyers is saving for a down payment. Home Possible® eliminates this barrier by allowing down payments as low as 3% of the home’s purchase price. This significantly reduces the upfront costs of buying a home, making homeownership a realistic goal even for those with limited savings.

2. Flexible Funding Options

Unlike traditional mortgage programs that require buyers to fund their down payment exclusively from personal savings, Home Possible® allows for a variety of funding sources.

These flexible options help ease financial strain and provide borrowers with more ways to secure home financing.

3. Income-Based Eligibility

Home Possible® is designed to help individuals and families who need it most. To qualify, borrowers must have an income that does not exceed 80% of the Area Median Income (AMI) for their location. Unlike other income-based programs, this only include “qualifying income”. We only need to include the income used to qualify for the loan, not the entire household income. This ensures that affordable mortgage options are accessible to those who might otherwise struggle to obtain home financing.

4. Mortgage Insurance Savings

Unlike some low down payment mortgage programs, Home Possible® allows borrowers to cancel their mortgage insurance (MI) once they reach 20% equity in their home. This can lead to significant long-term savings, as mortgage insurance typically adds an extra cost to monthly payments.

5. Competitive Interest Rates

With Home Possible®, borrowers can take advantage of affordable, competitive interest rates. Since the program is backed by Freddie Mac, lenders are able to offer better terms than some conventional mortgage products, helping to keep monthly payments manageable.

Who is Home Possible® For?

Home Possible® is tailored to meet the needs of a variety of homebuyers, including:

First-Time Homebuyers

If you’ve never owned a home before, the process can feel overwhelming. Home Possible® simplifies home financing, making it easier for first-time buyers to qualify for an affordable loan.

Low- to Moderate-Income Borrowers

For individuals and families with lower income levels, Home Possible® provides access to mortgage solutions that fit within their financial capabilities. By keeping down payment requirements and monthly mortgage payments low, this program creates an opportunity for more people to build wealth through homeownership.

Move-Up Buyers & Retirees

Even if you’re not a first-time homebuyer, Home Possible® can be a great option if you’re looking to move into a new home while keeping costs affordable. It’s also a valuable tool for retirees looking to downsize while maintaining financial stability.

How to Qualify for a Home Possible® Loan

To qualify for a Home Possible® mortgage, borrowers must meet certain eligibility criteria:

• Income Limitations: Your income must be at or below 80% of the AMI for your area.

• Credit Score Requirements: While credit score requirements vary by lender, Home Possible® loans generally have more flexible credit standards than traditional mortgage programs.

• Occupancy Requirement: The home must be used as your primary residence.

• Homeownership Education: First-time homebuyers may be required to complete a homeownership education course to ensure they understand the responsibilities and financial commitments of owning a home.

Why Choose Capital City Mortgage?

At Capital City Mortgage, we specialize in helping homebuyers navigate loan programs like Home Possible® with confidence. With offices in Lincoln and Omaha, we are deeply familiar with the Nebraska housing market and can guide you through the process from start to finish. Here’s why borrowers trust us:

1. Expertise in Home Possible® Loans

We have extensive experience helping buyers secure Home Possible® loans. Our team will ensure you understand the program’s benefits and eligibility requirements, making the homebuying process smooth and stress-free.

2. Personalized Guidance

Every homebuyer’s financial situation is unique. We take the time to assess your needs and provide customized loan solutions that fit your budget and long-term financial goals.

3. Fast and Efficient Process

We know that timing is crucial in real estate transactions. Our team works efficiently to process your application and get you pre-approved quickly so you can confidently shop for your new home.

4. Competitive Interest Rates

As a leading mortgage broker in Nebraska, we offer some of the most competitive interest rates available. Our goal is to help you secure an affordable loan that keeps your monthly payments manageable.

Take the First Step Toward Homeownership

Homeownership is more than just a dream—it’s an achievable goal with the right mortgage program. The Freddie Mac Home Possible® Mortgage makes buying a home affordable, accessible, and realistic for first-time homebuyers and low- to moderate-income borrowers.

If you’re ready to take the next step, Capital City Mortgage is here to help. Our experienced team will guide you through the entire loan process, answer any questions you have, and ensure you get the best possible mortgage solution for your needs.