Home Ready Home Possible
Additional Information
Program Summary
Additional Information
The HomeReady product is offered by Fannie Mae to help meet the diverse needs of today's buyers. It is designed for creditworthy, low to moderate income borrowers, with expanded eligibility in designated low-income communities.
Refer to the Fannie Mae HomeReady websiteProgram Comparison
HomeReady vs. Home Possible
Fannie Mae
HomeReady
- Down payment as low as 3%
- Income from non-borrower household members considered
- Reduced mortgage insurance coverage
- Designed for low-to-moderate income borrowers
- Expanded eligibility in designated low-income communities
Freddie Mac
Home Possible
- Down payment as low as 3%
- Flexible sources of funds for down payment
- Reduced mortgage insurance requirements
- Designed for very low-to-moderate income borrowers
- Available for first-time and repeat homebuyers
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