First Time homebuyers

HomeReady® & Home Possible® Loans

Who is this loan product for? HomeReady® (Fannie Mae) and Home Possible® (Freddie Mac) loans are ideal for first-time homebuyers or moderate-income borrowers who want to buy with a low down payment and benefit from flexible credit requirements and reduced mortgage insurance costs. These programs are also a great fit for buyers using gift funds, grants, or community assistance programs toward their purchase.

• Minimum FICO: 620
• Down Payment Minimum: 3%
• Max Loan-To-Value: 97%
• Max Loan Amount: $806,500 (Washington County, Tennessee)
• Fixed & Adjustable Mortgage Rate Options Available
• Loan Term Options: 10–30 Year
• Reduced Mortgage Insurance Costs Compared to Standard Conventional
• Income Limits Apply (varies by county and program guidelines)
• Seller Paid Closing Costs: Applicable and varies on down payment %

As independent mortgage brokers, we help you determine if HomeReady® or Home Possible® is the right fit – and guide you through the income and property eligibility requirements to make sure you maximize the benefits of these programs.

👉 Ready to see if you qualify with as little as 3% down? Contact us today for a free pre-approval.