Good Morning!
The next time you purchase a home you might want to consider a Freddie Mac program called Home Possible.
Home Possible is available up to 95% and 97% loan to value loans.
You can have a credit score down to 620 and get this program.
The main benefit to Home Possible is you get lower mortgage insurance rates. …which means lower house payment.
There are income limits on this program (goes by county median income). In other words, you can make too much money. …but, there are many areas that are exempt from any income limits. The only way to tell is to check the address of the home you are buying.
Here is the link to check the income limits… http://www.freddiemac.com/
Also, a homebuyer education course is required for this program if all borrowers are first time home buyers.
If you want to know more about this program just call me or shoot me an email!
That’s it for today!
Brett