HomeReady Home Loans Benefits Glendale AZ

Fannie Mae is on a mission to make home buying easier in Glendale AZ. With its new HomeReady mortgage, the giant mortgage backer looks to help first time home buyers and repeat buyers alike. This new mortgage program is laser-focused on helping minorities, Millennials, and mixed families on their road to homeownership.

HomeReady allows borrowers to make a low down payment as little as 3%, either for a home buying or refinancing transaction. Borrowers are also entitled to use a flexible source of funds for both the down payment and closing costs. HomeReady does not require a minimum contribution to come from the borrower’s own source of funds.

Because HomeReady allows borrowers to make a small down payment, they are required to purchase mortgage insurance, which is a premium that will be added into mortgage payments. HomeReady’s mortgage insurance is affordable and under certain circumstances, it is cancellable. Generally, in order to eliminate mortgage insurance, a borrower’s loan-to-value (LTV) ratio must be above 90%. However, this ratio and restrictions can vary from lender to lender.

I look forward to connecting with you and reviewing your options of buying a house in Arizona and present you some financing programs that best fits your budget.

Nathan Rufty
Mortgage Loan Originator
CA Call or Text: 909-503-5600
AZ Call or Text: 623-850-1210
eFax: 888-837-2861
CA & AZ NMLS #292056
[email protected]
www.NathanRufty.com

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