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January 13, 2021

Why Choose HomeReady? The benefits are clear.


Ideal HomeReady Borrowers

  • Low income
  • First-time or repeat homebuyers
  • Limited cash for down payment
  • Credit score ≥ 620; borrowers with credit scores ≥ 680 may get even better pricing
  • Supplemental boarder or rental income
  • Looking to purchase or refinance

HomeReady Comparison

Required down payment3%3.5%
Cancellable mortgage insurance*  
Immediate appraisal orders from lenders  
Free from geographic restrictions on loan amounts  
Day 1 Certainty® freedom from reps & warrants available  


Area Median Income Lookup Tool

Use the interactive map to quickly find HomeReady income limits by area. Simply search by address or view the areas you serve.

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