Via the HomeReady loan, home shoppers with lower-than-average income for their area can get easier access to low-down-payment mortgages at today’s current rates. It’s now available through many major U.S. >Related: How to buy a house with $0 down: First-time home buyerįederal mortgage agency Fannie Mae launched the HomeReady program in December 2015. ![]() This makes HomeReady one of the easiest mortgage programs to qualify for. And co-borrowers living in the home or outside of it can be on your application. Plus you could use gifts, grants, or a down payment loan to help cover your upfront costs. That’s $6,000 down on a $200,000 home - even less than the FHA’s 3.5% down payment. You could pay as little as 3% down on a HomeReady loan. ![]() One such program is the Fannie Mae HomeReady mortgage. Several loan programs can help home buyers with a lower income and/or low down payment.
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