The high LTV ratios, low down payment requirements and overall flexibility offered from Fannie Mae’s HomeReady loan gives first time and repeat buyers/investors the opportunity to acquire the property you are looking for.
Minimum of 620 FICO
Up to 97% loan-to-value (LTV) financing and flexible sources of funds
Low down payment, starting at 3% for home purchases
Non-occupant borrowers permitted
If all occupying borrowers are first-time homebuyers, a Homeownership Education is required from at least one borrower
First-time or repeat homebuyers
Flexible sources of funds with no minimum contribution from borrower’s own funds
Cancellable mortgage insurance (restrictions apply
Supplemental boarder or rental income
{object}