Houston Home Possible Mortgage

Houston Freddie Mac Home Possible Mortgage

This program is available as a 97% or 100% LTV (loan to value) mortgage. That means you would need to put down 0% to 3% plus closing costs. A seller contribution of up to 6% is usually allowed. If you qualify for the 100% program and the seller pays your closing costs it can be possible to close with no cash.

To qualify the customer must occupy the mortgaged home as a primary residence. There may be a limit on income for eligibility depending on the homes location. Credit should be mostly good, but need not be perfect. Your total monthly payments including the new home should be less than 44% of your income.

Advantages of the Home Possible mortgage include a very low interest rate. Private mortgage requirements are reduced, resulting in lower payments. Fixed and variable rate options are available. Loan decisions are made by automated Loan Prospector (LP) software, resulting in a fast loan decision.

One variation of this program is the “Home Possible Neighborhood Solution” mortgage. This includes extra benefits for healthcare workers, law enforcement officers, firefighters, educators, and military personnel. There is another variation called “A-minus mortgages" for those with previous credit problems.

Texas Capital Mortgage participates in Freddie Mac programs. Our loan officers can provide more information. We can also give you a comparison to other types of mortgages.

Please call for a free, no obligation consultation, or to make an application.

Freddie Mac Home Possible

LINK TO OTHER FREDDIE MAC PROGRAMS

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Texas Capital Mortgage - 28 FM 1960 West - Houston, TX 77090
Office Phone: 1- 866-433-0500 toll free Fax: 832-565-1656

Texas Mortgage Broker License #65252.

We provide service for the entire state of Texas.

Our goal is to provide your with the best mortgage products with low rates and superior service. Call one of our experienced loan officers for a rate quote or answers to your financing questions.