HomeReady Mortgage

The HomeReady Mortgage is a loan program by Fannie Mae designed to help low- to moderate-income borrowers qualify for homeownership. It offers flexible standards, such as lower down payments (as low as 3%), reduced mortgage insurance costs, and allows income from various sources, including rental income from other properties. The program aims to make buying a home more accessible while providing favorable terms for eligible buyers, including those with less traditional financial profiles. Overall, it’s a supportive option for individuals and families working toward owning a home.