FANNIE MAE HOMEREADY®

HomeReady Is Flexible To Match Your Lifestyle

I Have Great Credit, but not a Lot of Money for a Down Payment

No need to meet an income level to qualify if you live where the median tract income is no greater than 80% AMI.

Must make 100% of Area Median Income for properties in high minority census tracts and designated disaster areas to qualify.

Must make at least 80% of Area Median Income for all other properties to qualify.

Mortgage insurance coverage lower than the standard requirement for LTV ≥ 90.01% to 95% on terms greater than 20 years.

Gifts, grants, Community Seconds and cash-on-hand permitted as a source of funds for down payment and closing costs.

A Flexible, Lower Down Payment Loan Program

If you’re a homebuyer with a good credit history and a stable job, but not a lot saved for a down payment, the Fannie Mae HomeReady® mortgage may be for you. HomeReady is a fixed-rate affordable housing program for low-to-moderate income borrowers with as low as a 3% down payment or up to 97% financing.

To learn more about HomeReady resources and updates, please visit: Fannie Mae Homeready

Disclaimers: This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Credit and collateral are subject to approval. Equal Housing Opportunity.