HomeReady ‘s the title off Fannie Mae’s 3% down-payment home loan. It’s an easily affordable mortgage program to possess very first-date home buyers that’s and offered to repeat consumers and established residents to have re-finance.

Federal national mortgage association released HomeReady from inside the 2014. The application form replaced the brand new agency’s MyCommunity Financial system, that has been limiting and you will limiting. HomeReady created this new, flexible, affordable homeownership choices for low- and you can average-income consumers; permits for a minimum downpayment out of 3% and you may subsidizes home loan costs and you will financing will set you back.

Who has got qualified to receive new Fannie mae HomeReady home loan?

• You must consume the home you may be capital. HomeReady is actually for no. 1 residences only. Homebuyers cannot utilize it to invest in a secondary house, Airbnb property or some other style of investment property. Co-signers are allowed, and also at least someone on the mortgage need to live on property. Sigue leyendo →