Did you know that the average down payment among first–time homebuyers is 6% and it's 13–14% for repeat buyers, according to the National Association of Realtors®? It's possible to put down even less.
Many potential homebuyers think that only the Federal Housing Agency (FHA) helps make mortgage loans with low down payments. Not true.
Freddie Mac's Home Possible® mortgage products let qualified homebuyers put down as little as 3%.
If you make a low down payment, however, you may need to buy mortgage insurance (MI). You could pay less of it and realize other related benefits with a Home Possible loan vs. an FHA loan:
Learn about homebuying and homeownership on the My Home by Freddie Mac® web site. Or talk with an approved housing counselor.
Sign up to receive the latest news, tips, and insights from Freddie Mac.
We offer the resources to help you make informed housing decisions and support your success – whether you rent, own, or plan to buy a home.