Fannie Mae HomeView® can be used to satisfy the homeownership education requirements. NOTE: Homeownership education certificate must be retained in the mortgage file. Learn who qualifies for Fannie Mae’s HomeReady mortgage, the benefits and drawbacks as well as how it compares to other loans. HomeReady mortgages are home loans financed through the Federal National Mortgage Association (Fannie Mae). A HomeReady loan program is meant to help borrowers with low to moderate income buy or refinance a home with low down payments and low mortgage insurance costs. Fannie Mae's HomeReady program helps make homeownership accessible with a low 3% down payment, flexible income requirements, and cancellable mortgage insurance. This guide explains who qualifies, its benefits, and how to apply. HomeReady ® is a flexible mortgage solution that reduces the barriers to homeownership for low-income borrowers. With the consideration of on-time rent payments in loan eligibility, HomeReady can be your key to expanding opportunities for your borrowers — and for your business. HomeReady mortgages are a type of conventional loan for lower-income borrowers, backed by Fannie Mae. To qualify for a HomeReady loan, your income can’t exceed more than 80 percent of. The HomeReady mortgage is Fannie Mae's community lending program designed for borrowers with moderate incomes. It offers flexible underwriting and high loan-to-value ratios to help qualified borrowers purchase or refinance homes they'll live in as their primary residence. Government-sponsored enterprises Fannie Mae and Freddie Mac offer HomeReady and Home PossibleÒ loans that are available for an even lower down payment. Here, we’ll go over how HomeReady loans work, the benefits of this loan option, and how you can get one to finance your home purchase. HomeReady mortgages help lower-income borrowers afford to buy a home. Learn about the requirements and income limits here. If you’re a homebuyer with a good credit history and a stable job, but not a lot saved for a down payment, the Fannie Mae HomeReady® mortgage may be for you.