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.

  • 1-4 Unit principal residences
  • Purchase and Limited Cash-out Refinance options available
  • Planned Unit Developments
  • FNMA approved Condos permitted
    • Must be 1 unit properties
  • 1 Unit Properties
    • Max LTV1 97%
  • 2 Unit Properties
    • Max LTV1 85%
  • 3-4 Unit Properties
    • Max LTV 75%

Learn More about the HOMEREADY Program.

Learn More about areas with Potential HOMEREADY 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.

  • 1-4 Unit principal residence
  • Flexible down payment sources
  • Planned Unit Developments
  • Condos and manufactured homes eligible
    • With certain restrictions 
  • 1 Unit Properties
    • Max LTV1 97%
    • Max CLTV105%
  • 2-4 Unit Properties
    • Max LTV1 95%
    • Max CLTV2  95%                        

Learn More about the Home Possible program

Learn More about Home Possible Income and Property Eligibility

Have questions

Want someone to contact you and answer any questions you may have?

Questions?

Find a Loan Officer

If you are looking for a loan officer to help you through the process, click the Find a Loan Officer button.

Find a Loan Officer

Ready to apply

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

Complete a Full Application

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

1. LTV is Loan to Value. The ratio of the loan amount as a percentage of the total appraised value of the property.  Consult your tax advisor for further information regarding deductibility of interest and charges.

2. 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.