HOMEREADY™

FNMA has introduced a new Affordable Lending Product, HomeReady™. This program is designed for creditworthy, low-to-moderate income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities.

PROGRAM HIGHLIGHTS

  • 30 Year Fixed Rate, Primary Residence Only

  • 97% Maximum LTV/CLTV with a 620 FICO®

  • 1-4 Unit Single Family, PUD, Condo Eligible

  • Purchase and Rate & Term Refinance Available

  • Maximum Qualifying Ratio of 50%

  • No Minimum Borrower Contribution Required – Gifts Allowed

  • Homebuyer Counseling Required

  • Mortgage Insurance Required


BORROWER INCOME LIMITS

  • No income limits for properties located in low-income census tracts

  • Loan amounts up to $400,000**

  • 100% of area median income (AMI) for properties located in high-minority census tracts or designated disaster areas

  • 80% of AMI for all properties

QUICK QUOTE

LICENSING

NMLS #557025

CONTACT US

Joshua Nieves Lending Team - Merit Lending

9960 W Cheyenne Avenue #240

Las Vegas, NV 89129

(702) 580-5069

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