Low down payment mortgage designed to help lenders confidently serve today’s market of creditworthy low- to moderate-income. Please visit HomeReady® Mortgage or more details

Ideal HomeReady Borrowers

  • Have low to moderate income
  • Are first-time or repeat homebuyers
  • Have limited cash for down payment
  • Have a credit score ≥ 620; borrowers with credit scores ≥ 680 may get even better pricing
  • Have supplemental boarder or rental income
  • Are looking to purchase or refinance

Flexible Funding

With HomeReady, cash for down-payment and closing costs can come from multiple sources, including gifts, grants, and Community Seconds ® – with no minimum personal funds required.

HomeReady Comparison

Benefits HomeReady FHA
Required down payment 3% 3.5%
Cancellable mortgage insurance* Yes No
Immediate appraisal orders from lenders Yes No
Free from geographic restrictions on loan amounts Yes No
Day 1 Certainty™ freedom from reps & warrants available Yes No