Fannie Mae home loan product designed for creditworthy, low- to moderate-income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities.
HomeReady Borrower Benefits:
- Low down payment - Up to 97% financing for home purchase with many borrower flexibilities
- Flexible source of funds - can be used for your down payment and closing costs with no minimim contribution required from your own funds
- Conventional home financing with cancellable monthly Mortgage Insurance (MI) - helps you save money
- Homeownership education - helps you get ready to buy a home and be prepared for the responsibility of homeownership. The Fannie Mae required homeowner education training offers an easy-to-use, online course provided by Framework.