Freddie Mac Home Possible

F Purchase Apply Today
  • Requires only 3% down payment
  • $2,500 down payment credit may be available1
    • Qualifying income must be 50% or less of the Area Medium Income
    • Credit program runs March 1st, 2024 through February 28th, 2025
    • Can be used for downpayment and closing costs
    • Certain restrictions apply
  • Down payment can be a gift from a relative
  • No reserves required
  • Lower than typical PMI coverage required
    • 97% LTV = 25% coverage instead of 35%
  • Receive up to a $500 gift card at closing2

The Freddie Mac Home Possible is a great mortgage option if you don’t have the funds for a large down payment and live below the Area Median Income. Apply online or call us at (812) 469-9928 or 1-800-800-9271 to get started.
Click here to review income limits.

1Borrower must meet the income requirement of qualifying income being at or below 50% of the AMI. Full amount of credit must be applied to the borrower’s down payment and/or closing costs.
2Gift card offer is available on financing of purchase or construction loans for primary residences only. Purchase or construction loan amounts up to $149,999 will receive a $250 gift card. Purchase or construction loan amounts of $150,000 or greater will receive a $500 Gift Card. Not valid in combination with any other offer.

Take the first step toward your new home. Apply today! Apply Today
What information will Liberty FCU need to process my application?
  • Prior two years addresses and dates of residence.
  • Social Security number or tax ID.
  • Driver’s license or state issued identification card.
  • Prior two years employment information including employer contact and dates of employment.
  • Most recent W2 and pay stub for all income sources.
  • Two years federal tax returns, including tax applicable schedules if you are self-employed, have rental income, farm income or additional non-W2 reported income.
  • Alimony, child support or separate maintenance documentation if you wish to have it considered as basis for repaying this obligation.
  • Additional information may be required such as Divorce decree (if applicable) and/or proof of extra income such as rental income, dividends, Social Security, retirement, disability, pension, or welfare (supporting documentation is required).
  • Balance owed on all liens attached to the property including all mortgages as well as any home equity loans or lines of credit.
  • Most recent mortgage statement (if applicable).
  • Most recent property tax bill.
  • Most recent hazard insurance declaration page.
  • Most recent flood insurance declaration page (if applicable).

Rates accurate as of May 29, 2024 and are subject to change throughout the day. All mortgage rates include Extra Credit Discount.

Loans are subject to credit review and approval. Closing costs may apply. A sample principal and interest payment on a (30)-year $150,000 fixed rate loan amount with a 4.250% interest rate (4.317% APR) and 3% down is $715.77. Taxes and insurance are not included; therefore, the actual payment obligation will be greater. Actual interest rate may vary based on credit history. Gift card offer is available on financing of purchase or construction loans for primary residences only. Purchase or construction loan amounts up to $149,999 will receive a $250 gift card. Purchase or construction loan amounts of $150,000 or greater will receive a $500 Gift Card. Not valid in combination with any other offer. Liberty FCU mortgage lending product availability may vary based on property location.

Borrower must meet the income requirement of qualifying income being at or below 50% of the AMI. Full amount of credit must be applied to the borrower’s down payment and/or closing costs. Gift card offer is available on financing of purchase or construction loans for primary residences only. Purchase or construction loan amounts up to $149,999 will receive a $250 gift card. Purchase or construction loan amounts of $150,000 or greater will receive a $500 Gift Card. Not valid in combination with any other offer.