Put low- to mod-income
borrowers with good credit
in homes for as little as 3% down.
Meet the ideal HomeReady® borrower
- Have low-to-moderate income
- Are first-time or repeat homebuyers
- Have limited cash for down payment
- Credit score is ≥680
- Have supplemental boarder or rental income
- Looking for low-cost refinancing options
Clients save with cancellable PMI**
Unlike government-insured loans, with HomeReady®, borrowers may have the option to cancel their mortgage insurance once their home equity reaches 20%. This can result in lower monthly payments down the road.
Loans featuring flexible funding
With HomeReady, cash for down-payment and closing costs can come from multiple sources, including gifts, grants, and Community Seconds® — with no minimum personal funds required.
Customized marketing tools
We’ve got the tools you need to tap into the HomeReady® market. Get your custom-branded flyers, fact sheets, and educational materials in both English and Spanish at the Fannie Mae Marketing Center.
Get started with the Fannie Mae Marketing Center.
Don’t offer HomeReady® yet?
HomeReady® vs. FHA
orders from lenders
|Free from geographic
restrictions on loan
|Day 1 Certainty
freedom from reps