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.

HomeReady is flexible to match your lifestyle:

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

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

Must make at least 80% of AMI 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.

Ready to learn if this is the right program for you? Fill out the form below!

For more information about this loan program, please contact your local Loan Officer. Eligibility, programs, rates, terms and conditions are subject to change without notice. Credit and collateral are subject to approval.