Corporate Communications

Freddie Mac Home Possible Income Limits Reduced

On June 20, 2019, Freddie Mac announced they are reducing the income limits for their Home Possible program from 100% of area median income (AMI) to 80% of AMI.    The implementation date is currently planned for July 28, 2019.   This applies to all Home Possible mortgages, including those in low-income census tracts.

We published in the June Lending Announcement that Fannie Mae’s HomeReady product also reduced their income limits from 100% of AMI to 80% of AMI; however, HomeReady still has no income limit in low-income tracts.

 

Freddie Mac Bulletin 2019-15 Home Possible income limits

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