Designed to give today’s homebuyers more options
New HomeReady features offer increased access to homeownership
With a low down payment and expanded financing flexibility, HomeReady offers an ideal solution that works for today’s creditworthy low-income borrowers-whether they’re first-time or repeat buyers.
A new benefit of a $2,500 credit for very low-income borrowers can help overcome two of the greatest barriers to homeownership—down payment and closing costs.
In addition, lenders can lock in margins, reduce hedging costs, and take advantage of an enhanced best efforts commitment with pricing similar to a mandatory commitment.
Source: singlefamily.fanniemae.com