Home Possible Loans Made Simple
Affordable home financing designed for low-to-moderate income borrowers with flexible guidelines and low down payment options.
3% Minimum Down Payment
620+ Min Credit Score
Flexible Income Options
Low Monthly Mortgage Insurance
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Home Possible Options
No credit check required • No obligation • 100% Free
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What Is a Home Possible Loan?
A Home Possible loan is a program designed to help low-to-moderate income borrowers achieve homeownership with as little as 3% down. Backed by Freddie Mac, it offers flexible income sources, reduced mortgage insurance, and affordable monthly payments.
Purchase Loans
Buy your first or next home with a low down payment and flexible qualification options.
Rate & Term Refinance
Lower your rate or adjust your loan terms to better align with your goals.
Cash-Out Refinance
Access your home equity for renovations, debt consolidation, or other financial goals.
Why Choose a Home Possible Loan?
Achieve homeownership with flexible and affordable financing options.
Low Down Payment
Start your homeownership journey with as little as 3% down.
Reduced Mortgage Insurance
Enjoy lower PMI costs compared to traditional loan programs.
Flexible Income Sources
Use co-borrower income or additional sources to help qualify.
Ideal for First-Time Buyers
Perfect for buyers looking for affordable entry into homeownership.
Co-Borrower Flexibility
Non-occupant co-borrowers may be allowed to help strengthen your application.
Refinance Opportunities
Refinance options available to improve your financial situation over time.
Not sure if you qualify?
Don’t let uncertainty hold you back from homeownership, our team will review your situation and guide you every step of the way, completely free
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Submit your information
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Let us review your eligibility
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Get personalized guidance
Why RHS Lending
Expert guidance, personalized solutions, and a smooth path from application to closing
Tailored Financing Solutions
We customize every loan based on your unique financial situation.
Dedicated Loan Experts
Work with professionals experienced in affordable lending programs.
Fast & Efficient Processing
Our streamlined process ensures quick approvals and closings.
Clear Communication
We keep you informed every step of the way.
Frequently Asked Questions
What is the minimum down payment for Home Possible?
The Home Possible loan program allows qualified borrowers to purchase a home with as little as 3% down payment, making it one of the most affordable conventional loan options available. This low down payment helps first-time and repeat buyers achieve homeownership sooner without needing large savings.
Who qualifies for a Home Possible loan program?
To qualify for a Home Possible loan, borrowers typically need a credit score of 620 or higher, stable income, and must meet area median income (AMI) limits. This program is designed for low-to-moderate income borrowers, and flexible income sources—including co-borrowers—may be used to help meet eligibility requirements.
Can I use a co-borrower for a Home Possible loan?
Yes, Home Possible loans allow non-occupant co-borrowers, meaning someone who does not live in the home can help you qualify. This is especially helpful for first-time buyers who may need additional income support to meet lending requirements.
Does a Home Possible loan require mortgage insurance?
Yes, mortgage insurance (PMI) is required with a Home Possible loan when putting less than 20% down. However, PMI costs are typically lower compared to standard conventional loans, helping keep your monthly payment more affordable.
Ready to Buy Your Home?
Let RHS Lending help you secure an affordable Home Possible loan with confidence.