Home Ready & Home Possible

HomeReady and Home Possible® are low-down-payment mortgage programs designed for low-to-moderate-income borrowers. HomeReady is offered by Fannie Mae, while Home Possible is offered by Freddie Mac. Both programs allow down payments as low as 3%, flexible income sources, and reduced mortgage insurance costs. They are intended for qualified buyers who may not fit traditional loan requirements but can demonstrate reliable income and responsible credit behavior.