This topic contains information on HomeReady mortgages, including:
The HomeReady mortgage is a conventional community lending mortgage that offers underwriting flexibilities to qualified borrowers who meet specific income criteria.
The HomeReady mortgage is a standard product offering available to all Fannie Mae lenders. No special approvals are required.
Unless specifically permitted, the HomeReady mortgage may not be used in conjunction with negotiated variances in a lender’s Master Agreement. In addition, Fannie Mae, at its sole discretion, may impose volume limitations for HomeReady mortgage loans with any lender.