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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%
  • Terms (Years)
30, 25,20,15 Fixed and Adjustable
  • Gift Funds Allowed
Yes
  • Eligible Homes
Single & Multi-Family, Manufactured, Condo
  • Seller Paid Closing Costs
Up to 3% of the Sales Price
  • Loan Limits
$453,100 Most US Counties / $679,650 AK & HI
  • Max DTI
45% (Higher DTI’s May Be Allowed Up To 50% Max)
  • Minimum Credit Score
620 Mid-Score
  • Availability
All US States, Owner Occupied Only