Conventional 5% Down Payment Purchase Loan Program

20.03.2017
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The Fannie Mae HomeReady program gives low-to moderate-income borrowers more opportunities to own their first home, including flexible credit terms and a low down payment.

-As little as 5% down payment

-Boarder Income and Non-borrower Household Income allowed

-Available for owner occupied, 1 to 4-unit properties

-Loan Amounts up to $636,150

-Up to 50% debt to income ratio

-Credit scores as low as 700

-Homeownership education course is required

-Income limits apply. Check HUD Area Median Income Limits for income eligibility.

-Programs available only to qualified borrowers. Programs subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply.

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