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Flat Branch Home LoansHome Possible

The Home Possible and Home Possible Advantage programs are conventional loan programs created by Freddie Mac and offered by Flat Branch Home Loans. They are designed for low- to moderate-income home buyers and offer affordable down payment requirements. Home Possible programs can be used for purchases or refinances, though no cash-out refinances are allowed. Refinances can only be used to change the interest rate or term.  

Eligibility & Property Types

Home Possible

All borrowers must occupy the property as their primary residence.

Property Types:

  • 1-4 unit primary residences
  • condos
  • planned unit development
  • manufactured homes

Home Possible Advantage

All borrowers must occupy the property as their primary residence.

Property Types:

  • 1-unit primary residence only
  • condos
  • planned unit development

Down Payment

Home Possible: 5% Down

Home Possible Advantage: 3% Down

Down payments for the Home Possible programs can come from a variety of sources, including relatives, employer assistance programs, or secondary financing that meets the financial criteria.

Private Mortgage Insurance

One of the benefits of the Home Possible Mortgage is that you can request the removal of your private mortgage insurance when your loan to value reaches 80%. Additionally, the private mortgage insurance cancels itself automatically when your outstanding balance is 78% of the appraised value.

Income Limits

To be eligible for Home Possible or Home Possible Advantage programs, your income cannot exceed the Area Median Income where the property is located, except when the property is located within a designated high-cost or underserved area.

There is no borrower income limit in rural or underserved areas.

If you need help determining whether or not you or the property you're interested in are eligible for the Home Possible loan program, please reach out to one of our Loan Officers or you can use Freddie Mac’s income and property eligibility tool.


Any borrower who will be on the mortgage who are first-time home buyers must take a free homeownership course before the loan closing. The course is available online or in-person. You can get more information on this course from your Flat Branch Loan Officer!