Updated over 5 years ago on . Most recent reply
HomeReady and Home Possible Loans
Does anyone here have any experience with the Fannie Mae HomeReady or Freddie Mac Home Possible loan programs? I am exploring my options for my first property and am intrigued by these. They are a little different from each other but have enticing pros (3-5% down, drop PMI at 80 LTV, etc..).
How do their rates normally compare to standard conventional loans and FHA loans? Are these ideal loans for someone wanting to house-hack their way into a real estate career? How do these compare to WHEDA loans? FHA loans?