Home Possible Neighborhood Solution Mortgages
Offers Flexible Credit Parameters for Community Workers
Effective for mortgages with Application Received Dates on or after January 10, 2014, mortgages with an original maturity in excess of 30 years are not eligible for sale to Freddie Mac, as announced in Single-Family Seller/Servicer Guide Bulletin 2013-16. Sellers may continue to deliver these mortgages provided that they have Freddie Mac Settlement Dates on or before
July 31, 2014.
With Freddie Mac’s Home Possible Neighborhood Solution® Mortgages, you can offer your borrowers low down payment options and flexible credit terms.
What’s more, you have even greater flexibility to serve borrowers who work in your community – like teachers, firefighters, health care workers, law enforcement officers, and military personnel – so that they can live in the communities they support so well.
|Eligible Mortgage Products||
|Maximum LTV/TLTV Ratios||
|Down Payment Requirements||
Use Freddie Mac's selling system for easy secondary market sale.
|Special Delivery Requirements||
|Single-Family Seller/Servicer Guide||
Download a Home Possible Neighborhood Solution Mortgage fact sheet for more details.
Home Possible Neighborhood Solution Mortgages help you:
- Expand your borrower base and tap new markets such as low-and moderate-income borrowers, first-time homebuyers, new immigrants, and underserved communities.
- Leverage a continuing, competitive, and affordable option, with high-LTV lending for borrowers with strong credit.
- Enhance your Community Reinvestment Act (CRA)-eligible originations.
Home Possible Neighborhood Solution Mortgages provide your borrowers with:
- Stable monthly mortgage payments for fixed-rate mortgages
- Flexible closing cost funding options
- Reduced mortgage insurance coverage levels
- No cash-out refinancing
For More Information
- Call your Freddie Mac representative
- Print a Home Possible Neighborhood Solution Mortgages fact sheet
Visit The Learning Center for live and recorded web conferences, access to classroom-style workshops and self-study tools – all designed to help you stay competitive, serve more borrowers and make it easier to do business with us.
The information in this document is not a replacement or substitute for information found in the Single-Family Seller/Servicer Guide and/or the terms of your Master Agreement and/or Master Commitment.