Home Possible is a mortgage product offered by Freddie Mac, a government-sponsored enterprise (GSE) that provides funding for the U.S. mortgage market. Home Possible is designed to help low- and moderate-income borrowers, as well as those with limited cash for down payment, purchase a home.

Some key features of Home Possible include:

• Low down payment options: Borrowers can make a down payment as low as 3% of the purchase price.

• Flexible credit standards: Borrowers with non-traditional credit sources, such as rental payments or utility bills, may be able to qualify for a Home Possible loan.

• Income from non-borrowers: Income from non-borrowers, such as roommates or extended family members, can be used to qualify for a loan.

• Community seconds: Home Possible loans may be combined with a second loan from a local government or nonprofit organization, which can provide additional funds for down payment and closing costs.

• Energy-efficient upgrades: Home Possible loans can be used to finance energy-efficient upgrades to a home, which can help lower monthly utility bills.

Home Possible loans are available for the purchase or refinance of single-family homes, as well as certain manufactured homes, condominiums, and townhomes. The loan terms and conditions may vary depending on the location of the property and the borrower's financial profile.