Fannie Mae HomeReady Loan Program

First time home buyers Florida, Fannie Mae HomeReady loan program

It’s in Guild’s DNA to help first-time homebuyers become homeowners. The definition of a first-time homebuyer is an individual who has had no ownership interest in a principal residence during the last 3 years. 

Guild’s Fannie Mae HomeReady loan program offer borrowers great benefits! With low down payments and options for flexible sources of funds, homeownership is more attainable. Take advantage of these conventional lending programs when qualifying for a home loan!

Borrower Benefits:

  • Lower monthly payment due to lower rates and mortgage insurance

  • Down payment options as low as 3% with flexible sources of funds

Product Highlights:

    • Credit scores as low as 620

    • Borrowers with credit score 680+ may get better pricing

    • Cancellable mortgage insurance

    • Mortgage insurance coverage is only at 25%

    • Borrower is not required to be a first-time buyer

    • Homebuyer education is required

    • Max 80% of Area medium income

    • No reserves required

    • Income limits  80% of area median income (Area Medium income look up tool)​​

Take advantage of Fannie Mae's HomeReady loan program today!