Over the past few months, we have been asked a multitude of questions about the HomeReady™ Mortgage. Is it only for first-time home buyers? May the down payment really be less than an FHA loan? The questions roll on.
According to Fannie Mae, the HomeReady program was “designed for creditworthy, low- to moderate-income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities.” This program offers another avenue for lending. To check a property’s eligibility, click on the map below, which is a tool offered by Fannie Mae. Whether you’re […]