Freddie Mac Home Advantage Program | The Hagley Group Tracy Mettier

You will have to pay PMI (Private Mortgage Insurance) and can expect this to add an extra $40 – $80 per month for every $100,000 borrowed. Once you have paid off at least 20% of your loan you can go back and renegotiate with your lender to have the PMI removed. The Home Possible Advantage does have tougher credit standards than other low down payment mortgages, including lower debt-to-income ratios.

Source: Freddie Mac Home Advantage Program | The Hagley Group Tracy Mettier

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