Qualifying for HomeReady and HomePossible
Down payment
Finance up to
Debt-to-income
Credit score
Max loan amount
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What are the benefits of HomeReady and HomePossible?
Low down payment of 3%
HomeReady and HomePossible loans only require a down payment of 3%.
Reduced mortgage insurance cost
The loans limit the amount you must pay for Private Mortgage Insurance (PMI). Reducing your PMI results in a lower monthly payment.
Competitive interest rates for low income borrowers
Freddie Mac and Fannie Mae agency fees are waived for Homeady and HomePossible loans. This usually results in a much lower interest rate. Very low income borrowers may receive an even better interest rate.
Why choose CapCenter?
Unbelievable savings.
Competitive interest rates.
Expert service.
Transparent pricing.
Tools & Resources
Instant Rate Quote
Mortgage Calculator
Home Value Estimation
Rate Alerts
Frequently asked questions
What is the difference between HomeReady and HomePossible?
The primary difference between the two products is that HomeReady is a Fannie Mae product, and HomePossible is a FreddieMac product. The qualification, benefits, and pricing are otherwise very similar.
How do I know if my income qualifies for HomeReady or HomePossible?
In order to qualify, your household income must fall below the Area Median Income (AMI) for your location. Our loan team can help determine your eligibility, but you can look up the median income for your location on the Fannie Mae website.
Are HomeReady and HomePossible only for first-time homebuyers?
No, you don't have to be a first-time homebuyer to qualify for either product.
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