HomeReady By Fannie Mae

HomeReady By Fannie Mae

 

HomeReady™ is a Fannie Mae program that provides affordable
home financing for low- to moderate-income borrowers, with
expanded eligibility for homes in designated low-income, minority,
and disaster-impacted communities.
Program Benefits
  • Up to 97% financing for home purchase with many borrower flexibilities.

  • 100% gift funds acceptable for down payment and closing costs on one-unit properties.

  • Reduced mortgage insurance requirements, which help keep payments affordable.

  • Fixed-rate and adjustable-rate options available.

Program Eligibility
  • No first-time homebuyer requirement; however, homebuyer education is mandatory.

  • Income eligibility is aligned with housing goals requirements for low-income, high-minority, and designated disaster areas.

  • Innovative feature that allows income from a non-borrower household member to be considered in the qualifying debt-to-income ratio.

  • Non-occupant borrowers (like a parent) are permitted.


Source: Academy Mortgage-Mike Adams-Loan Officer | NMLS: 1047827

 


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Phone: 602-549-9242
Dated: December 16th 2015
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About Penny: Buying and selling a home is a very important event in your life. Whether it be your first home, a ...

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American AllStar Realty
6642 E Baseline Rd Ste 101
Mesa, AZ
602-353-7375