Yes — first-time buyers can use Home Possible® with as little as 3% down, cancellable PMI, flexible income, and VLIP grant stacking.
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Home Possible
First-Time Buyers
Yes — Home Possible® is one of the strongest conventional options for first-time buyers: as little as 3% down, flexible income, cancellable PMI, and grant stacking when you qualify.
If you have never owned a home (or meet a first-time buyer definition used by a grant program), Home Possible lets you buy a primary residence with as little as 3% down while staying in conventional financing.
That means private mortgage insurance can cancel once you reach the equity milestones — a major long-term cost difference versus many FHA loans where MIP lasts for the life of the loan when you put less than 10% down.
Ryan and Steve also screen AMI eligibility, homebuyer education, gift funds, and VLIP grant pairing so your first purchase file is structured before you write an offer.
Four advantages that show up on real purchase files — not marketing fluff.
A few checklist items that keep first-purchase Home Possible files moving.
Related Home Possible guides and first-time buyer resources.
Ryan & Steve will check your AMI eligibility, model Home Possible vs FHA, and screen VLIP grant pairing when it applies.
Home Possible is a registered trademark of Freddie Mac. All loans are subject to credit and property approval. Program guidelines, income limits, and pricing are subject to change without notice and may not be available in all areas. This website is not affiliated with or endorsed by Freddie Mac, HUD, or any government agency. Information is for educational purposes only and is not a commitment to lend.