• First-time homebuyers, move-up borrowers, retirees and previous home buyers that had a foreclosure, bankruptcy or short sale

• Families in underserved areas that offer no income limits

• Very low and low- to moderate-income borrowers

• This the biggest benefit Lower interest rate and lower monthly mortgage coverage

• Stable monthly payments with fixed-rate mortgages

• Flexible sources of funds

• Reduced mortgage insurance coverage levels for LTV ratios greater than 90 percent. In addition, monthly mortgage insurance will drop out of the payment unlike the FHA home loan program and you can also buy the mortgage insurance out

• The minimum down payment of 3 percent allowed for Home Possible Advantage.

Eligibility annual income is up to 100 percent of area median income. There are higher income limits in high-cost areas and no income limit on properties located in any designated underserved area. Higher area median income limits mean broader borrower income eligibility so more borrowers qualify. This link here will define the income limit areas http://www.freddiemac.com/homepossible/eligibility.html

Homebuyer Education:

• FREE through Freddie Mac CreditSmart® – Steps to Homeownership Tutorial. Only five modules are required to obtain the Homebuyer Education Certificate for borrowers that are first-time homebuyers, does not apply on refinance loans or buyers who owned residential real estate in the past 36 months 
• Various sources of homebuyer education are accepted
• Only required for one borrower when all borrowers are first-time homebuyers