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Key Highlights
The Benefits
Low Down Payment
Eligible buyers may qualify with less upfront cash.
Flexible Qualification
Designed to expand homeownership opportunities.
Conventional Financing
Enjoy the benefits of a conventional mortgage.
What's Required
Program Eligibility
Borrowers must meet HomeReady® guidelines.
Mortgage Qualification
Income, credit, and assets are reviewed.
Primary Residence
The home must generally be owner-occupied.
The Ins & Outs
How it Works
Fannie Mae's HomeReady® mortgage is designed to help eligible homebuyers achieve homeownership with flexible qualification options and low down payment opportunities. Whether you're purchasing your first home or buying again, HomeReady® can provide an affordable path to financing.
HomeReady® is available for eligible primary residences and offers features designed to expand access to homeownership while maintaining the benefits of conventional financing.
Example Scenario
A homebuyer has steady income and good credit but wants to minimize their down payment. A HomeReady® mortgage provides an affordable conventional financing option that helps them purchase a primary residence.
What is a HomeReady® mortgage?
HomeReady® is a conventional mortgage program from Fannie Mae designed to help eligible borrowers achieve homeownership with flexible financing options.
Do I have to be a first-time homebuyer?
No. While HomeReady® is popular with first-time buyers, repeat homebuyers may also qualify if they meet the program requirements.
How much do I need for a down payment?
Eligible borrowers may qualify with a low down payment, subject to HomeReady® guidelines and lender requirements.
What type of home can I purchase?
HomeReady® is generally available for eligible owner-occupied primary residences.
How is HomeReady® different from a standard Conventional loan?
HomeReady® includes additional eligibility features designed to make conventional financing more accessible for qualified homebuyers who meet the program requirements.
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