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
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@CommunityLoanServicing.com for information on product flexibility and options.
All Agency products are offered through Lakeview Loan Servicing, LLC. NMLS #391521, 4425 Ponce de Leon Blvd, MS 5-251, Coral Gables, FL 33146. All Non-Agency/Jumbo products are offered through Community Loan Servicing, LLC. NMLS #2469, 507 Prudential Road, Horsham, PA 19044, Both are Equal Housing Lenders. All Programs referenced herein are offered to qualified residential lending institutions only and are not applicable to the general public and/or individual consumers. www.nmlsconsumeraccess.org
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