Selling Guide

Published December 4, 2019

B5-6-01: HomeReady Mortgage (09/29/2015)

This topic contains information on HomeReady mortgages, including:


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