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Search verified grants from Fannie Mae / Freddie Mac →Stored deadline of 2027-02-28 not found on the page; no deadline mentioned.
HomeReady and Home Possible credits is sponsored by Fannie Mae / Freddie Mac. If you're getting a HomeReady or Home Possible conventional loan, you might qualify for a $2,500 credit if your income is 50% or less of your area's median income. This credit can be used toward your down payment or closing costs.
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Search similar grants →Extracted from the official opportunity page/RFP to help you evaluate fit faster.
Home Possible® - Freddie Mac Single-Family Help qualified borrowers overcome a leading barrier to homeownership with Home Possible ® , a low down payment mortgage solution for low- and very low-income borrowers.
Grow opportunities with: A 3% down payment with flexible sources of funding Robust features designed for the changing needs of today’s borrowers Housing options from single-family homes, manufactured housing, energy-efficient properties and renovations to condominium units Credit fee caps and additional savings for qualified borrowers Underwriting confidence with Loan Product Advisor ® (LPA ® ) Explore how Freddie Mac’s Home Possible ® has helped over one million families achieve homeownership through low down payment solutions.
Learn about the impact, stories and ongoing support that continue to open doors for borrowers nationwide. Read the executive insight and watch how Bell Bank Mortgage is making home possible.
Home Possible ® Income and Property Eligibility Tool Chapter 4501: Home Possible Mortgages Frequently Asked Questions The information on this page is not part of, and is not a replacement or substitute for, the requirements found in the Freddie Mac Single-Family Seller/Servicer Guide and your other Purchase Documents.
Flexible Sources of Down Payments Down payment can come from a variety of sources, including family, employer-assistance programs, secondary financing, and sweat equity. Qualifying income is limited to 80% of area median income (AMI). There are no geographic limits on loan amounts.
Use the Home Possible Income & Property Eligibility Tool to see income limits for specific properties or submit to Loan Product Advisor ® to determine Home Possible income eligibility. Low down payment with a maximum of 97% LTV, 105% TLTV with Affordable Seconds ® , and 97% HTLTV for 1-unit properties.
Mortgage insurance (MI) on 1-unit properties can be cancelled after loan balance drops below 80% of the home's appraised value and cancellation criteria are met. MI coverage requirements are reduced for LTV ratios above 90%. Certain credit fees are capped for eligible mortgages.
For more information, refer to Exhibit 19, Credit Fees and Exhibit 19A, Credit Fee Cap Eligibility Criteria . Property Type/Eligible Properties 1-4 units, condos, co-ops and planned-unit developments; manufactured homes are eligible with certain restrictions. Tutorial: Home Possible ® Income Eligibility Learn more about income eligibility requirements in determining area median income limits for Home Possible mortgages.
Tutorial: Grow Your Business with Home Possible Tutorial: Grow Your Business with Home Possible ® Learn how Home Possible can help your low-income borrowers with credit flexibilities, low down payments and options for sources of funds. Webinar: Low Down Payment Solutions: Home Possible ® and HomeOne ® Get a deep dive into Home Possible ® and HomeOne ® .
These low-down payment offerings will help your clients realize their dream of homeownership. We will explore the benefits and differences between these programs.
Based on current listing details, eligibility includes: At least one borrower must be a first-time homebuyer, and income must be 50% or less of the area's median income. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates $2,500 credit Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is February 28, 2027. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
Federal grant success rates typically range from 10-30%, varying by agency and program. Build a strong proposal with clear objectives, measurable outcomes, and a well-justified budget to improve your chances.
Requirements vary by sponsor, but typically include a project narrative, budget justification, organizational capability statement, and key personnel CVs. Check the official notice for the complete list of required attachments.
Yes — AI tools like Granted can help research funders, draft proposal sections, and check compliance. However, always review and customize AI-generated content to reflect your organization's unique strengths and the specific requirements of the solicitation.
Review timelines vary by funder. Federal agencies typically take 3-6 months from submission to award notification. Foundation grants may be faster, often 1-3 months. Check the program's timeline in the official solicitation for specific dates.
Many federal programs offer multi-year funding or allow competitive renewals. Check the official solicitation for continuation and renewal policies. Non-competing continuation applications are common for multi-year awards.