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Home Ready Loans MORTGAGE.INFO MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Home Ready Loans- Mortgage.info

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Page 1: Home Ready Loans- Mortgage.info

HomeReadyLoans

MORTGAGE.INFO

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Page 2: Home Ready Loans- Mortgage.info

What is a home ready loan?

The home ready loan is designed by

Fannie Mae for creditworthy borrowers

who may have a moderate to low income.

This loan is flexible and can be used for

whatever the borrower see fit, however

can make a good mortgage loan. This is

due to the expanding eligibility for

financing homes in low income, minority, or

disaster impacted areas.

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Page 3: Home Ready Loans- Mortgage.info

Home Ready loans can offer some

competitive rates due to DU credit risk

assessment. This loan also allows for

grants, or monetary gifts to be a source

of funding from the borrowers for a

down payment and the closing costs of

the home. This loan can help you step

into home ownership, and help your

generate better credit down the line.

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Page 4: Home Ready Loans- Mortgage.info

Borrower

benefits:

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Page 5: Home Ready Loans- Mortgage.info

Low down payments

With a Home ready Loan you can

finance up to 97% of your home and

you can use grants and monetary

gifts to pay the downpayment.

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Page 6: Home Ready Loans- Mortgage.info

Flexible Fund source options

Both the downpayment and the

closing costs can be paid with

borrowed, public, or gifted funds,

there is no contribution required

from the borrower’s funds.

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Page 7: Home Ready Loans- Mortgage.info

Cancellable monthly MI

You can request to cancel the MI

payments when the loan balance

drops below 80% loan to value ratio.

It will be automatically dropped at

78%.

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Page 8: Home Ready Loans- Mortgage.info

Homeownership training

With this program there is a

Homeownership training

available online to help educate

and prepare the buyers of

homeownership.

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Page 9: Home Ready Loans- Mortgage.info

What are the eligibility requirements?

This loan is created for low income

families and individuals to be able to

get into their homes with help. There

are modified eligibility requirements

set in place to help ensure that the

lender feels confident in lending and

the borrower will qualify.

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Page 10: Home Ready Loans- Mortgage.info

Here is a list if what you need to be

eligible for this offer:

The borrower must complete the the online training

course and receive the Certificate of Completion.

The borrower must be a first time home buyer

The borrower must live in the property as a primary

residence within 60 days of closing

The property needs to be on the list of eligible

homes for this program.

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Page 11: Home Ready Loans- Mortgage.info

Check out your options for a Home

ready loan. Make sure you shop

around with lenders to get the best

programs for you. Get rates today

with us and take your first steps

toward homeownership!

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Page 12: Home Ready Loans- Mortgage.info

T O L E A R N M O R EMORTGAGE.INFO

LENDER HOTLINE: 888-581-5008

C L I C K H E R E

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Page 13: Home Ready Loans- Mortgage.info

Justin McHood is Americas Mortgage

Commentator and has been providing

Mortgage commentary for over 10 years.

INFORMATION PROVIDED BY:

Justin McHood

MORTGAGE.INFO

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

Page 14: Home Ready Loans- Mortgage.info

LEARN MORE ABOUT MORTGAGE.INFO:

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FACEBOOK.COM/WWW.MORTGAGE.INFO

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PINTEREST.COM/MORTGAGE_INFO

LENDER HOTLINE: 888-581-5008

MORTGAGE.INFO LENDER HOTLINE: 888-581-5008