Fannie Mae HomeReady

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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