HomeReady Loan - Ross Mortgage

If you’re house hunting and working with a tight budget, I have fantastic news for you. Earlier this year, Fannie Mae introduced HomeReady, a new affordable loan program geared toward homebuyers who qualify for a mortgage but may not have a large sum of funds to use for a down payment.

Similar to previous loan products, HomeReady is a low down payment conventional loan product that allows buyers to purchase a home for as little as 3% down. While there are similarities, HomeReady is unique in that it allows a non-borrowing member’s income to be considered on the loan.

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