Homeownership Just Got More Affordable

Welcome to an exciting realm of possibilities with our revamped Down Payment Assistance, a collaborative initiative by Fannie Mae and our lending partner. This pioneering program aims to lower the entry barriers to homeownership for eligible first-time buyers, offering substantial support with down payments and closing costs. Our pilot program delves into how reducing upfront expenses, coupled with valuable perks like down payment assistance, free homebuyer education, and appraisal credit reimbursements, can significantly boost homeownership rates in specific markets. Tailored for first-time homebuyers in certain geographic areas, this special credit program is dedicated to facilitating sustainable homeownership, providing unmatched guidance as you embark on the journey to acquire your dream home. Curious to see if you qualify? Continue reading for more details, or set a free consultation by clicking here.

Eligibility

• At least one borrower must be a first-time homebuyer currently residing in a designated Metropolitan Statistical Area (MSA) as determined by Fannie Mae.
• A minimum middle FICO score of 680 is required. (If you have a 620, you may be still be eligible for a lower grant for $5,000)
• Your loan must align with the Fannie Mae program guidelines and receive an initial approval through automated DeskTop Underwriter (DU) Feedback. Final underwriting approval will be required.

Program Benefits

Embrace the benefits of HomeReady

• $10,000 in down payment or closing cost assistance
• $500 appraisal reimbursement
• One-year home warranty credit
• No income limits
• No location restrictions on where you purchase your first home
• Free homebuyer education course.

Ready to Apply Now?

Designated MSAs

Our program covers a range of MSAs including: The following areas are the MSA’s designated by Fannie Mae as being potentially eligible for HomeReady First. At least one borrower’s current residence must be within one of these MSA’s:

• Atlanta-Sandy Springs-Roswell, GA
• Baltimore-Columbia-Towson, MD
• Brownsville-Harlingen, TX
• Chicago-Naperville-Elgin, IL-IN-WI
• Cleveland-Elyria, OH
• Dallas-Fort Worth-Arlington, TX
• Detroit-Warren-Dearborn, MI
• Houston-The Woodlands-Sugar Land, TX
• McAllen-Edinburg-Mission, TX
• Memphis, TN-MS-AR
• Miami-Fort Lauderdale-Pompano Beach, FL
• New York-Newark-Jersey City, NY-NJ-PA
• Oklahoma City, OK
• Orlando-Kissimmee-Sanford, FL
• Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Phoenix-Mesa-Chandler, AZ
• Riverside-San Bernardino-Ontario, CA
• San Antonio-New Braunfels, TX
• St. Louis, MO-IL
• Tampa-St. Petersburg-Clearwater, FL

Documentation Required

You will need to prove that you currently live in one of the eligible areas. Proof of your current residence within a designated MSA is essential. Your current residence can be documented using two of the following document list:

• Current state-issued identification card
• Driver’s license
• Rental verification
• Cellphone
• Utility bill
• Insurance bill
• Vehicle registration

You must ensure your documentation is current and clearly validates