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HomeReady Mortgage

HomeReady Mortgage

Lead confidently to more borrowers

HomeReady is an affordable low down payment mortgage product designed for creditworthy, low- to moderate-income borrowers, with expanded eligibility for financing homes in low-income communities. This program allows for a co-signer on the loan who is not on the application, a traditional co-signer.


Borrower Benefits

  • Low down payment with up to 97% LTV financing for home purchases
  • Competitive pricing meets or beats our standard loan pricing
  • Flexible sources of funds with no minimum contribution requirement from borrower’s own funds (1-unit properties)
  • Rental and boarder income may be considered for qualifying
  • CLTV up to 105% for loans with an eligible Community Seconds® transaction 
  • Expanded DTI ratio when using additional household income from non-borrowers
  • Non-borrower household income is not counted toward income eligibility limits
  • Cancellable private mortgage insurance per Servicing Guide policy
  • Reduced MI coverage requirements for LTVs above 90% (up to 97%)
  • Co Signer for income and Debt Ratio Consideration 

Visit Fannie Mae HomeReady to find out how HomeReady can help you lend confidently to more borrowers

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