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Free Consultation

Complete this 30 second form to receive a no obligation consultation. We will analyze your situation and determine the best solution.

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HomeReady® Mortgages

Ideal Borrower Traits

 
•    Low to moderate income
•    First-time or repeat homebuyers
•    Limited cash for down payment
•    Credit score greater than or equal to 620
•    Credit scores greater than or equal to 680 may get ever better pricing
•    Supplemental boarder or rental income
•    Looking to purchase or refinance
 

Cancellable Mortgage Insurance*

The HomeReady® loan allows borrowers the option to cancel their mortgage insurance when their home equity reaches 20%.  This option is not available with government-insured loans and can result in lower monthly payments down the road.

*Restrictions apply.

 

Flexible Payment Options

HomeReady allows cash for down-payment and closing costs to come from multiple sources, including gifts, grants, and Community Seconds®, no minimum personal funds required.

Benefits HomeReady FHA
Required down payment 3% 3.5%
Cancellable mortgage insurance* Yes No
Immediate appraisal offers from lenders Yes No
Free from geographic restrictions on loan amounts Yes No
Day 1 Certainty™ freedom from reps & warrants available Yes No
*Restrictions apply.
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1725 East 1450 South Suite 100 Clearfield, UT  84015 | LO NMLS ID: 8785-NMLM

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