HomeReady mortgages are conventional home loans from Fannie Mae. These are meant to help low to moderate income borrowers buy or refinance a home. Not only do they reduce the typical down-typical and mortgage insurance requirements, but these programs are more flexible in allowing down-payment assistance from other people.
Fannie Mae's purpose in these programs is to allow access to credit to those who may not normally qualify while educating them and promoting responsible homeownership. In addition to down-payment assistance, HomeReady loans allow co-borrowers who do not necessarily have to live in the residence. If there is no one to co-borrow, Fannie Mae will also consider anyone who lives with the borrower as a compensating factor when it comes to your debt-to-income ratio if it is slightly high.
There are also the following benefits:
Northstar Mortgage
2955 Horizon Park Drive, Ste. A
Suwanee, GA 30024
770-995-8078
Northstar Mortgage NMLS# 158531 / Georgia Residential Mortgage Licensee # 14112