Fannie Mae HomeReady Mortgage
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
- 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
- HomeReady does NOT provide Cash on Hand
- Non-occupant co-borrowers are not allowed
* restrictions apply
Swipe left to see more reviews
Found the service to re-finance my home loan to be fast and efficient. Our loan officer Will Goodwin was straight forward and courteous. Highly recommended!
Joseph R. GMFS Mortgage Customer
Monday August 24, 2020
I had the best team working on my First Time Home Buyer. They knew I was scared out of my mind about the whole an made it look so easy I can’t stop praising these amazing group of people guys I want to thank you from the bottom of my heart!
Gina C. GMFS Mortgage Customer
Friday July 31, 2020
We are beyond thankful for our generous supporters like you all! Our work during these difficult times would not be possible without the support of our community!
Society of St. Vincent de Paul of Greater Baton Rouge GMFS Mortgage Customer
Monday April 13, 2020
My fiancé and I are first time home buyers and we would STRONGLY recommend GMFS. If you are in the market for a home and want someone friendly, knowledgeable, personable, and that will work diligently for you? Request Stephanie Chenevert! Stephanie made the home buying process as least stressful as it could’ve been and I can’t thank her enough for getting us through the biggest purchase of our LIVES. She is truly a life saver and God sent.
Jorrell J. GMFS Mortgage Customer
Wednesday March 11, 2020
Jackie and her team were wonderful to work with. I’m a first home buyer and she made the process smooth. Thanks for being patient and making my dream of owning my home come true.
Debra T. GMFS Mortgage Customer
Tuesday December 10, 2019
Over 100,000 customers and $18 billion in residential mortgage funding in 23 states
Processing, underwriting, and closing under same roof means smooth & predictable closings
A+ rating with BBB and winner of Torch Award for Marketplace Trust
GMFS staff has an avg. of 14+ years of mortgage industry experience