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HomeReady Program

HomeReady

If you’re looking for an affordable mortgage program that comes with a minimal down payment and has flexible credit and income guidelines, look no further than Fannie Mae’s HomeReady program. Here are some key features of the program:

▸ Only a 3% down payment is required to buy a home

▸ Gifts, grants, and cash-on-hand permitted for down payment

▸ You do NOT have to be a first-time homebuyer to qualify

▸ Reduced mortgage insurance coverage requirement (which equates to a lower MI     payment than that of a standard conventional loan)

▸ Households earning up to 100% of the Area Median Income (AMI) are eligible

▸ Up to 45% debt-to-income (DTI) ratio allowed and up to 50% DTI when certain     compensating factors are met

▸ Purchase and limited cash-out refinance transactions are eligible

▸ 1-4 unit properties and condominiums are eligible

Learn more about this great program today!

Just fill out the secure quote form to the right and someone from our Preapproval Team will contact you as soon as possible. It’s that simple!

Get Your Quote Today:

Please fill out the form below to receive a no-obligation quote on a home loan with Flat Branch.
 
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