Agency Products – Fannie Mae HomeReady®
HomeReady® by Fannie Mae is designed for creditworthy low-to-moderate income borrowers, offering expanded eligibility for financing homes in low income communities.
Guidelines
- 3% down payment for home purchase and refinance transactions
- Financing up to 97% LTV
- 680 minimum FICO
- Affordable and cancellable mortgage insurance
- Borrower is not required to be a first-time buyer
- Gifts, grants Community Seconds®, and cash-on-hand permitted as a source of funds for down payment and closing costs
- Supports HomeStyle® Energy, manufactured housing, and HomeStyle Renovation
The above is for informational use and may not include all applicable program guidelines. Other terms and conditions may apply.
Contact your representative or UnderwritingQuestions@BayviewLoanServicing.com for information on product flexibility and options.
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