HomeReady® and Home Possible® loans are affordable mortgage options designed to make homeownership accessible to low-to-moderate income buyers.
HomeReady® and Home Possible® loans are exceptional programs created by Fannie Mae and Freddie Mac to expand homeownership opportunities for low-to-moderate income individuals and families. These loans feature low down payment requirements, flexible qualification criteria, and competitive interest rates, making them ideal for first-time buyers or those with limited savings. If you’ve dreamed of owning a home but are concerned about upfront costs or strict credit requirements, these programs are tailored to meet your needs.
Both HomeReady® and Home Possible® loans allow down payments as low as 3%, and borrowers can use gifts, grants, or other assistance programs to cover the required amount. These loans also feature flexible credit score requirements, enabling more buyers to qualify. Additionally, borrowers can benefit from competitive fixed interest rates, making monthly payments predictable and affordable. With provisions for co-borrowers and income flexibility, these programs are ideal for diverse financial situations.
At Cascade Home Loans, we specialize in helping buyers take advantage of HomeReady® and Home Possible® programs. From determining your eligibility to guiding you through the application process, we’re committed to making homeownership straightforward and stress-free. Our team works closely with you to find the right loan option, ensuring your financial goals align with your dream of owning a home.
Apply for your loan without worrying about upfront application costs, so you can focus on finding the right home and financing solution.
HomeReady® and Home Possible® loans are designed for low-to-moderate income buyers and first-time homeowners. Eligibility depends on income limits and creditworthiness.
These loans require as little as 3% down, making them accessible for buyers with limited savings.
Yes, both programs allow down payments to be covered using gifts, grants, or assistance programs.
No, while they are ideal for first-time buyers, repeat buyers may also qualify based on income limits and other factors.
Yes, PMI is required for down payments below 20%, but the premiums are often lower compared to other loan types.
Yes, HomeReady® and Home Possible® loans allow the purchase of multi-unit properties (up to 4 units) as long as you live in one unit.
Don’t just take our word for it
Matt is a pleasure to work with. He helped me through every part of the home buying process answering any and all of my questions along the way. He is hard working, timely, and easy to understand. I would recommend him!
Andrew was a dream to work with. I had a complicated situation and he was there to help me throughout the whole process. He was extremely helpful with all of the difficult situations that came his way. I would not hesitate to recommend him to anyone.
We closed on the house in less than 28 days and this was the first time we ever applied for a loan( FHA). Working with Andrew was literally a breeze. He was very responsive and connected us with anyone we may need during the entire loan process. He was honest, thoughtful, and helpful each step of the way and made the entire process so smooth. Can’t recommend him enough!
Trying to buy a house in a red-hot market is a challenge; having Andrew on the finance side made everything so much easier. We made offers on several properties and every time Andrew was able to provide an approval letter immediately. When we finally had an offer accepted, he made the process clear and simple, and most importantly FAST. We would definitely recommend Andrew to anyone looking for financing.
Andrew stayed on top of everything and made the process very easy, under 2 weeks from submission to clear to close. I would absolutely recommend him to anyone in the future.
From the first contact “let me pull over I am driving and I will have a quote for you”: which only took about 25 mins max to today, the day of closing it has been little more than 31/2 weeks and it is all because of Andrew’s undivided attention, availability and determination. A pleasure to work with highly recommended!
It was a pleasure working with Andrew in both shopping for a mortgage and then completing the mortgage application and closing process. He was professional and very easy to work with…open to talk at any time and answer any questions…right up to the closing. He was even present at the closing to again field any questions and ensure the closing went as expected. I highly recommend Andrew to anyone looking for financing solutions.
My wife and I had a difficult situation between buying and selling homes with different agents and being long distance. I found Andrew multiple times going above and beyond what he should be doing. Recognizing that buying/selling house waits for no one makes it difficult when you are at work, Andrew would ALWAYS pick up the slack on our end as well as give me much needed reminders. In addition, I found it refreshing to get honest answers from Andrew, rather than hearing what you “want” to hear. All in all, Andrew is great at his job and a really great person, that always has your interest in mind, and will do the right thing. He makes one of the more stressful life events, a little bit less stressful.
Andrew was very responsive and went out of his way to make sure we always had all of our questions answered. He worked with us to make sure that we could afford our home and get into it quickly, before we even found one to put an offer in. Even after closing, he continued to answer our questions and give us advice.
Most people find that mortgage financing is complicated and confusing. We help you buy your dream home by simplifying the mortgage financing process with personalized loan options that save you time and money.
