A recent article published by The Seattle Times describes that Fannie Mae will soon unveil its "HomeReady" program, which "could be a key turning point" for people "who thought they'd never qualify for a mortgage to buy a home." The program focuses on potential buyers "who need extra flexibility on debt-to-income ratios, down-payment cash and the sources of the funds they intend to use for monthly payments."

According to the article, some of the key features are down payments for as little as 3%, no minimum buyer contributions, being able to account for the income of people who will reside within or outside the home but will not be on the loan documents, and more. But it is also key to point out that, "in exchange for these underwriting breaks, Fannie has two important requirements: Since this is a program primarily designed to pen credit doors for people with moderate incomes, there are limits" in accordance with the census tracts of an area. In addition, "Fannie Mae also expects everybody who qualifies for HomeReady to complete an online home-purchase education course lasting roughly four to six hours." 

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