Selling Guide
Published October 2, 2019
- Selling Guide: Main Page
- Part B: Origination Through Closing
- B5: Unique Eligibility and Underwriting Considerations
- B5-6: HomeReady Mortgage
- B5-6-01: HomeReady Mortgage (09/29/2015)
- B5-6: HomeReady Mortgage
- B5: Unique Eligibility and Underwriting Considerations
- Part B: Origination Through Closing
B5-6-01: HomeReady Mortgage (09/29/2015)
This topic contains information on HomeReady mortgages, including:
Overview
The HomeReady mortgage is a conventional community lending mortgage that offers underwriting flexibilities to qualified borrowers who meet specific income criteria.
Lender Approval Requirements
The HomeReady mortgage is a standard product offering available to all Fannie Mae lenders. No special approvals are required.
Negotiated Variance and Volume Limitations
Unless specifically permitted, the HomeReady mortgage may not be used in conjunction with negotiated variances in a lender’s Master Agreement. In addition, Fannie Mae, at its sole discretion, may impose volume limitations for HomeReady mortgage loans with any lender.
Related Announcements
The table below provides references to the Announcements that have been issued that are related to this topic.
| Announcements | Issue Date |
|---|---|
| Announcement SEL-2015–10 | September 29, 2015 |
| Announcement SEL-2012–07 | August 21, 2012 |