Home > Underwriting > Home Possible

Home Possible: Go!-eligible; reduced mortgage insurance coverage

Navigate to: MGIC Go!-eligible | Mortgage insurance coverage requirements | Loan Center users

We provide mortgage insurance coverage for Home Possible® mortgages.

Freddie Mac's Home Possible program is an ideal loan option for qualifying families with minimal savings to apply toward the purchase of their first home. Offered through participating lenders, Home Possible is available to borrowers who meet the program’s income requirements or are purchasing properties in underserved areas.

The program's reduced mortgage insurance coverage requirement results in lower mortgage insurance costs for qualifying Home Possible borrowers. They also benefit from:

  • Reduced requirements for borrower contributions and reserves
  • The ability to use Affordable Seconds® and nontraditional sources of funds for a down payment, closing costs and prepaids*
  • A requirement to complete pre-purchase homebuyer education, so first-time homebuyers will be better informed about the responsibilities of owning a home**

We will review down payment assistance (DPA) programs to determine whether you can use them in conjunction with Home Possible mortgages we insure. We offer reduced coverage at Home Possible’s required levels under each of our premium plans.

MGIC Go!-eligible

Loans with a Loan Product AdvisorSM Accept/Eligible response are eligible for our MGIC Go! streamlined mortgage insurance program.

Home Possible mortgage insurance coverage requirements

Freddie Mac’s Home Possible program’s coverage requirements differ from standard Agency requirements.***

 Base LTV  Home Possible Coverage
  > 20 Years  ≤ 20 Years 

 97%
-95.01%

  25% 25%

 95%
-90.01%

  25 25

 90%
-85.01%

 25 12

 85%
& Below

 12  6

Use the > 20 Years columns for ARMs and manufactured homes coverage requirements.

Loan Center users

Expedite MI processing by entering Home Possible Code 1616 in the MGIC Program ID # field.


Home Possible® and Affordable Seconds® are Freddie Mac trademarks. Loan Product AdvisorSM is a Freddie Mac service mark.

*See Freddie Mac Seller/Servicer Guide for Affordable Seconds eligibility criteria and requirements.

**Only required of 1 borrower when all borrowers on an application are first-time homebuyers.

***These coverage requirements are subject to change. While we try to keep this information current, we do not warrant the accuracy or completeness of these requirements. In addition, loans processed through an Agency AUS and specific Agency programs may have different coverage requirements. Therefore, the requirements listed above may be outdated or inapplicable; do not rely on them to determine current Agency coverage requirements.