Fannie Mae HomeReady low-down payment mortgage is designed for creditworthy, low- to moderate-income borrowers.

HomeReady Loan Features

Low down payment – Up to 97% financing for home purchase with many borrower flexibilities

Flexible source of funds – can be used for your down payment and closing costs with no minimum contribution required from your own funds. With HomeReady, cash for down-payment and closing costs can come from multiple sources, including gifts, grants, and other approved programs – with no minimum personal funds required.

Conventional home financing with cancellable* monthly Mortgage Insurance (MI) – helps you save money; reduced MI coverage requirement above 90% LTV supports competitive payments

  • * restrictions apply

Homeownership education – helps you get ready to buy a home and be prepared for the responsibility of homeownership. The Freddie Mac required homeowner education training is available online from Framework
http://www.frameworkhomeownership.org

For purchase and Rate Term Refi only

Primary residence only

Borrowers cannot own other property

Does not provide Cash on Hand

Non-occupant co-borrowers are not allowed

CUSTOMER REVIEWS

WHY GMFS MORTGAGE?

Our avg. customer feedback rating = 4.8 stars! Experience for yourself why so many of our customers and partners refer GMFS Mortgage to their family, friends and clients!

Established

Over 89,000 customers and $14.9 billion in residential mortgage funding in 23 states

Efficient

Processing, underwriting, and closing under same roof means smooth & predictable closings

Trusted

A+ rating with BBB and winner of Torch Award for Marketplace Trust

Experienced

GMFS staff has an avg. of 14+ years of mortgage industry experience