We are happy to announce the completion of our servicing system conversion. An overview of new features and functions can be found here.
We are happy to announce the completion of our servicing system conversion. An overview of new features and functions can be found here.
HomeReady™ mortgages from Fannie Mae are meant to help borrowers with low-to-moderate incomes buy or refinance a home. These loans reduce the typical down payment and mortgage insurance requirements. They’re also more flexible with co-borrower requirements, including allowing co-borrowers who won’t be living in the home. For example, parents can co-sign a loan to help their adult children get approved.
Down payments as low as 3%.
Credit scores as low as 620 are accepted.
Permits family or friends to co-sign the loan.
Several property types are allowed, including single-family homes, 2-4 unit properties, modular homes, condominiums and homes in Planned Unit Developments (PUDs).
Properties in high-cost areas may qualify.
Homebuyer education is required.
Update the information below to estimate your monthly payment
Private Mortgage Insurance typically costs between 0.5% to 1% of the entire loan amount over 80% LTV on an annual basis.
Monthly Principal & Interests : $1145.80
Monthly Real Estate Taxes : $316.67
Monthly Insurance : $66.67
Monthly PMI : $0.00
Total Monthly Payments : $1529.13
Loan To Value Ratio : 80.00%
Months With PMI : 0 months
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