A low down payment conventional program for eligible low- to moderate-income borrowers, available for purchase and refinance scenarios.
Freddie Mac Home Possible is a conventional mortgage option built to help eligible low- to moderate-income borrowers access financing with a low down payment. Income limits, property eligibility and homeownership education requirements may apply.
Up to 97% LTV (3% down) on eligible scenarios.
620 minimum credit score on eligible scenarios.
Available for purchase and eligible refinance transactions.
Borrower income limits based on area median income may apply.
Low down payment conventional option for eligible borrowers.
Mortgage insurance on conventional loans may be cancelable under applicable rules.
Review eligibility, property type and occupancy requirements with a loan officer. Subject to underwriting and Freddie Mac guidelines.
Quick answer: Freddie Mac Home Possible is a conventional low down payment program for eligible low- to moderate-income borrowers, with up to 97% LTV (3% down) and a 620 minimum credit score on eligible scenarios. It is available for purchase and eligible refinance transactions. Subject to underwriting and Freddie Mac guidelines. Last reviewed: November 2026.