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Flat Branch Home LoansHome Possible

The Home Possible and Home Possible Advantage are conventional loan programs created by Freddie Mac. Home Possible programs can be used for purchases or refinances.

Who’s it For?

Both Home Possible and Home Possible Advantage are designed for low- to moderate-income homebuyers. You do not have to be a first-time homebuyer to qualify for these programs.

What’s the Difference?

You’re probably wondering what the difference is between Home Possible and Home Possible Advantage. The main difference lies in the type of properties the program approves. While both are geared toward condos and planned unit developments, Home Possible will allow 1-4 unit residences and may allow certain manufactured homes under certain circumstances. Home Possible Advantage, on the other hand, only allows 1-unit properties and doesn’t allow manufactured homes.

Program Highlights

Both programs feature similar perks:

  • Low down payment of 5% for Home Possible and 3% for Home Possible Advantage
  • Down payments can come from a variety of sources, including relatives, employer assistance programs or secondary financing that meet the financial criteria
  • Cancellable mortgage insurance after reaching 20% equity


Any borrower who will be on the mortgage who are first-time home buyers must take a free homeownership course before the loan closing. The course is available online or in-person. You can get more information on this course from your Flat Branch loan officer!