FOR HOME BUYERS
HomeReady® And Home Possible®
HomeReady® (Fannie Mae) and Home Possible® (Freddie Mac) are affordable lending solutions designed for low-to-moderate income borrowers. These loans offer low down payments, reduced mortgage insurance costs, and flexible underwriting for first-time and repeat buyers alike.
Home Buying that's easier on your budget? It's possible.
Just 3% Down
Affordable entry into homeownership
Lower Mortgage Insurance
Reduced MI premiums save you money each month.
Credit Flexibility
Accepts non-traditional and limited credit history.
Refinance Options
Lower your rate or improve terms later on.
Guidelines for this Loan
If your details are close to these guidelines, we encourage you to apply or contact us. Even if you don’t qualify for an adjustable-rate mortgage, we could have other options for you.
Property Types
– 1-unit (HomeReady) or up to 4-units (Home Possible with conditions).
Estimate and Explore
Calculators are a great way to learn and see what’s possible.
Down Payment Calculator
Learn how much cash you need to buy the home in your mind.
Comparing ONE+ by Rocket Mortgage
Everyone’s situation is different. What might be right for one person might not be right for you. Apply or contact us – it’s the best way to explore your unique options.
Get More In-Depth Details
Articles that give you more information about this loan and explain how mortgages work.
Frequently Asked Questions
Answers to questions about this loan we heard from people like you during research.
Do I Need to Be a First-Time Buyer?
No, repeat buyers can qualify as long as income and occupancy rules are met.
What’s the Difference Between the Two?
HomeReady® is Fannie Mae’s version; Home Possible® is Freddie Mac’s. They’re very similar, but with slight variances in income treatment and guidelines.
Can I Buy a Multifamily Home?
Home Possible® allows up to 4 units if you live in one. HomeReady® is limited to 1-unit properties.
What Happens If My Income Goes Up?
Once the loan closes, income changes don’t affect eligibility. You just have to qualify based on AMI at time of application.
Do I Have to Pay Mortgage Insurance?
Yes, but it’s discounted and drops off when you hit 20% equity.
