Freddie Mac Home Possible - No Income Limits In Disaster Areas
Did you know that the income requirements have been waived on Home Possible mortgages for properties located in federally declared disaster areas?
Home Possible income requirements are waived for properties identified by Loan Product Advisor or the Home Possible Income and Property Eligibility tool as located in federally declared disaster areas. If a mortgage meets all other requirements, it will qualify for a Home Possible mortgage.
For more information see Home Possible FAQs.
See Fairway Guides for Home Possible guidelines. Once logged in on the FWL website, click on “Guides” at the top. It will redirect you to the Knowledge Owl website where you will click on “Wholesale Product Matrices” then “Conventional Products” and then “Freddie Mac Home Possible”.