Freddie Macs Home Possible Mortgage is a great alternative to Fannie Maes MyCommunity Mortgage. Home Possible Fixed-Rate Mortgages come in 15, 20, 30 and 40-year terms. Adjustable-Rate Mortgages are also available in forms of 5/1, 7/1 and 10/1 LIBOR ARMs.

Home Possible through Freddie Mac also offers financing for 3-4 unit properties and manufactured homes. The minimum down payment for such properties is 5% of the purchase price.

Home Possible offers additional flexibilities for teachers, firefighters, law enforcement officers, healthcare workers and military personnel, including members of the United States Army, Navy, Air Force, Marines, Coast Guard and National Guard.

Reduced mortgage insurance is offered as well.

Home Possible Mortgages allow zero or low down payment and flexible credit terms to help more borrowers realize the dream of home ownership.

Home Possible is a loan program offered through Freddie Mac. Home Possible offers reduced mortgage insurance and can also provide flexible terms for teachers, firefighters and law enforcement officers.