HomeReady®

There are 3.2 million
potential buyers nationwide.*

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.

**Restrictions apply.


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?
Start today.

Get Started

HomeReady® vs. FHA

Benefits HomeReady® FHA
Required
down payment
3% 3.5%
Cancellable mortgage
insurance**
 
Immediate appraisal
orders from lenders
 
Free from geographic
restrictions on loan
amounts
 
Day 1 Certainty
freedom from reps
and warrants