Fannie Home Ready

Fannie Mae’s Home Ready loan program is great for buyers who meet income guidelines, don’t own any other properties and want a conventional low down payment program to purchase a single family owner occupied property.

Highlights of the program are:

**no First time buyer requirement

**at least 1 borrower must take a Fannie Mae homebuyers counseling class

**3% down payment, lower than FHA’s 3.5% required down payment

**Loan level price adjustments waived for credit scores 680+ & 80%LTV+

**must be at or below AMI guidelines

**available for up to 95% loan to value rate/term refinances on single family, owner occupied homes

**conventional loan- Mortgage insurance is cancellable, unlike FHA


Call your lender today to see if you qualify for Fannie Mae’s Home Ready program to purchase your new home.


About lizschneider66

Mortgage consultant with over 19 years experience. First time buyers, move up buyers, construction, FHA/VA, Jumbo loans, investment property purchases, & refinances- I will find the solution to financing the American dream of homeownership! Subscribe to my blog and never miss any mortgage industry news. I am Vice President of the North Coast Building Industry Association, Lorain County Association of Realtors, Working Women Connection and Womens Council of Realtors.
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