The Fannie Mae HomeReady™ Program opens up the possibilities for many families to own their own home or refinance an existing mortgage that would otherwise be unable to under standard conventional guidelines. This Fannie Mae program provides more flexible income guidelines for borrowers that have great credit, yet do not have enough income to bring their debt-to-income ratio … [Read more...] about 4 Types of Income that can Qualify you for the HomeReady™ Program
The Fannie Mae HomeReady™ program is an innovative program that allows you to use income from household members that may not be on the loan. This is a great way for people that live in high minority or low-income areas to secure a home. Fannie Mae realized that many people that live in these areas have people that contribute to the monthly expenses at home, including the rent. … [Read more...] about Five Things to Know About the HomeReady™ Mortgage Program
When you hear that there is required education in order to qualify for the Fannie Mae HomeReady™ Program, you might cringe and start looking at other programs. Who wants to deal with something else on their plate, right? Not only do you have to jump through hoops to get the mortgage, but now you have to set aside between four and six hours to learn about home ownership? The … [Read more...] about 3 Benefits of the Required Education for the HomeReady™ Program
Fannie Mae is constantly coming out with new programs to make home ownership affordable, but none of those programs have even come close to the HomeReady™ Mortgage Program. The requirements for this loan are simple and the amount of money you need to come up with is very small. In the end, you are left with an affordable mortgage program that enables you to become a homeowner … [Read more...] about 4 Reasons to Love the HomeReady™ Mortgage Program
The HomeReady™ Program enables you to purchase a home with only 3 percent down and still get a loan backed by Fannie Mae. It also allows you to use income that you would otherwise be unable to use on any other loan type. The program is geared towards people that live in areas of high minority or low income and people that generally have good credit but do not have the income … [Read more...] about How are the Income Requirements Different on the HomeReady™ Program?