HOMEREADYTM Program

The HomeReadyTM Mortgage is an enhanced affordable lending product, building on the long term success of the MyCommunityMortgage®.  With new and revised loan and borrower eligibility requirements and underwriting flexibilities, HomeReadyTM targets low-to-moderate-income borrowers and borrowers and buyers in designated low-income, minority, and disaster-impacted communities; qualified borrowers who may lack the funds for a larger down payment can take advantage of flexible options that help make homeownership a reality with as little as 3% down.

  • Max Loan-to-value 97%
  • Purchase and Limited Cash-out Refinance options available
  • 1-4 Unit principle residences
  • Planned Unit Developments and FNMA approved Condos permitted, but must be 1 unit properties

Home PossibleTM Program

Home PossibleTM is a Freddie Mac Community Lending program designed to meet the needs of low-and-moderate-income borrowers by providing flexible financing options that help them achieve home ownership.

The program can be used for Purchase or no Cash-out Refinance transactions.  This is a great option for first-time homebuyers, qualified borrowers who may lack the funds for a larger down payment can take advantage of flexible financing options that help make homeownership options a reality.

HOME POSSIBLETM

  • Max Loan-to-value 95%
  • 1-4 Unit primary residence
  • Purchase or No cash-out Refinance

HOME POSSIBLE ADVANTAGETM

  • Max Loan-to-value 97% / Max CLTV1 105%
  • 1 unit primary residence
  • Purchase of No cash-out Refinance

Have questions

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If you're ready to submit your application, click the Fill Out a Full Application button and and jump right in. 

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LENDING IN ALL STATES EXCEPT: KANSAS, MARYLAND, NEW JERSEY, AND NEW YORK

1. CLTV is Combined Loan To Value.  Financing that exceeds 100% of the property's fair market value is not tax deductible for Federal income tax purposes.  Consult your tax advisor for further information regarding deductibility of interest and charges.

Homeowner education is required to qualify for the HomeReady, additional fees may apply.  Information stated above is subject to change without notice.  All applications are subject to underwriting guidelines and approval.  This does not constitute an offer to lend or offer an extension of credit.  All Loans are subject to credit approval.  Not all applicants will qualify for all products offered.  All loan programs, terms and interest rates are subject to change without notice and may only be available in select markets.

Information stated above is subject to change without notice.  All applications are subject to underwriting guidelines and approval.  This does not constitute an offer to lend or offer an extension of credit.  All loans are subject to credit approval.  Not all applicants will qualify for all products offered.  All loan programs, terms and interest rates are subject to change without notice and may only be available in select markets.