The HomeReady Loan program is offered by Fannie Mae, and designed for creditworthy, low to moderate-income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster impacted  communities.

If you have good credit, low to moderate income for your area, and want a loan with a low down payment, a HomeReady loan may be the perfect solution. In addition to a lower down payment than most other loan programs, HomeReady also has reduced mortgage insurance to make your payment even more affordable.

•  Minimum Down Payment

3.00%

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• Terms (Years)

30, 25,20,15 Fixed and Adjustable

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• Gift Funds Allowed

Yes

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• Eligible Homes

Single & Multi-Family, Manufactured, Condo

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• Seller Paid Closing Costs

Up to 3% of the Sales Price

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• Loan Limits

$453,100 Most US Counties / $679,650 AK & HI

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• Max DTI

45% (Higher DTI’s May Be Allowed Up To 50% Max)

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• Minimum Credit Score

620 Mid-Score

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• Availability

All US States, Owner Occupied Only