HomeReady® mortgage addresses common financial challenges and offers expanded eligibility guidelines, such as:
- Qualify for a mortgage with help from co-borrowers or extended households. HomeReady® mortgage allows co-borrowers who don’t live in thehome to be included on the mortgage, such as parents or others who want to help. And, extended family or other household members’ income can help you qualify—even if they aren’t on the mortgage.
- Down payments as low as 3%. Ideal for home buyers with limited savings, and the down payment and closing costs can be paid from sources other than your own funds.
- Savings over the life of the loan. With private mortgage insurance that may cost less over time—may be eligible to be canceled once 20% home equity is reached, unlike mortgage insurance on government-insured loans.
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