Fannie Mae created HomeReady® mortgage, an enhanced affordable loan designed to meet the diverse financial and familial needs of responsible, creditworthy buyers.
Watch to Learn More
Know the Features & Flexibilities
HomeReady mortgage addresses common financial challenges and offers expanded eligibility guidelines, such as:
- Offering a 3% down payment option. First-time and repeat homebuyers can purchase a home with a down payment as low as 3% of the purchase price.
Homeownership Education Requirement
HomeReady mortgage has a homeownership education requirement to help buyers prepare for the responsibilities of buying and owning a home. Buyers can complete an online homeownership course offered by Framework® to fulfill the requirement. One-on-one homeownership advising (i.e., through a HUD-approved counseling agency) may also be an option for buyers who could benefit from personalized assistance. If you seek one-on-one advising, speak with your broker or Lender beforehand to confirm that you’ll meet the HomeReady mortgage education requirement.
For more details and to see if you qualify for a HomeReady Mortgage, give us a call. We may have other affordable financing options for you to consider as well.