Mortgage Programs
HomeReady®
Whether it’s your first home or your next home, a HomeReady Mortgage from Fannie Mae offers an affordable option for today’s homebuyer.
Designed to Give Today's Homebuyers More Options
With a low down payment and expanded financing flexibility, the HomeReady Mortgage® from Fannie Mae offers an ideal solution that works for today’s creditworthy low-income borrowers-whether they’re first-time or repeat buyers.
A new benefit of a $2,500 credit for very low-income borrowers can help overcome two of the greatest barriers to homeownership—down payment and closing costs.
Program Details
Key features of the HomeReady program include:
- Low down payment - as low as 3%
- Flexible source of funds for down payment and closing costs
- Reduced mortgage insurance requirements for certain LTVs
- Income limits based on geographic area
- No minimum contribution required from borrower's own funds
- Completion of homeownership education course required
For more information use the link below to access the Fannie Mae HomeReady® Mortgage FAQ page:
Contact Our Mortgage Team
Click the button below to fill out our ‘Contact Us’ form, and a GRB Mortgage Originator will be in touch to answer your questions!