HomeReady Mortgages | PA, NY Low Down Payment Home Loan

Here are some of the ways HomeReady can help:

Low Down Payment: First-time or repeat homebuyers can purchase a home with as little as 3% down.
Flexible Down Payment Sources:* Gifts, grants, and Community Seconds^® accepted.
Lower Mortgage Insurance (MI) Costs: Mortgage insurance is cheaper than FHA and can be cancelled once you build enough equity.**
Competitive Fixed Interest Rates: Competitive pricing helps keep monthly payments manageable.
Refinance Option Available: Available for both purchases and refinances.

Is a HomeReady Mortgage Right for You?

HomeReady is designed for borrowers whose qualifying income does not exceed 80% of the area median income for the home’s location. Whether you’re buying your first home or have owned one before, a C&N Mortgage expert can help you check the local income limit and review your financing options.

Connect with a C&N Mortgage expert to discover all the ways HomeReady mortgages can make home ownership a reality today.

Do I have to be a first-time homebuyer?

No. HomeReady mortgages are available to eligible first-time and repeat homebuyers, so previous homeownership does not automatically disqualify you.

Will I need to complete a homebuyer education course?

If all borrowers who will occupy the home are first-time homebuyers, at least one must complete qualifying homeownership education for a HomeReady purchase loan. Fannie Mae’s HomeView® course can satisfy this requirement; certain housing counseling and assistance-program education options may also qualify.

HomeReady® Mortgages

Think Buying a Home Is Out of Reach?

Here are some of the ways HomeReady can help:

Is a HomeReady Mortgage Right for You?

HomeReady Mortgage FAQs