HomeReady Mortgage is an affordable low down payment mortgage product designed for credit worthy, low – to moderate – income borrowers, with expanded eligibility for financing homes in low-income communities. This program allows for a co-signer on the loan who is not on the application, a traditional co-signer.
HomeReady Mortgage Features & Benefits
- Low Down Payment – With up to 97% LTV financing for home purchases
- Flexible Sources – No minimum contribution requirement from borrower’s own funds
- Reduced MI – Coverage requirements for LTVs above 90% (up to 97%)
- Competitive Pricing – Meets or beats our standard loan pricing
- Co-Signer – For income and Debt Ratio Consideration
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