HomeReady
by Fannie Mae

Sente Mortgage is pleased to offer Fannie Mae's HomeReady mortgage program as a smart choice for affordable living. HomeReady by Fannie Mae offers home loans to both first-time and repeat buyers. The program addresses common financial challenges and offers expanded eligibility requirements with the goal of bringing home ownership within reach for responsible, creditworthy buyers.

At Sente, we understand the financial challenges that many potential home buyers face and we are excited to have a product that can help low- and moderate-income families, as well as minority and multi-generational households.

Key Features of HomeReady Loans by Fannie Mae

• Down payments as low as 3%.  For first-time and repeat home buyers the HomeReady programs offers low down-payment options helping to make home ownership more accessible.
• Supports extended families & allows co-borrower flexibility. The HomeReady program will consider income from a household member who is not a borrower (ie. in multi-generational households the income of children, grandparents, or other extended family may be used to help meet qualification standards). It's also important to note that the HomeReady program doesn't require co-borrowers to reside in the home (ie. parents, who won’t be living in the home, can be co-borrowers on the loan to help their children qualify for a mortgage and purchase a home. Income limits may apply.)
• Accepts additional sources of income. Rental income may be considered as an allowable income source to help meet the income requirements.
• Homeownership education course required. HomeReady mortgage has a home-ownership education requirement to help buyers prepare for the responsibilities of buying and owning a home.
• Stable monthly payments with fixed rate mortgages. The Fannie Mae HomeReady program is designed to work with low- and moderate-income households and offer an affordable mortgage.
• Cancellable mortgage insurance. 

When it comes to home ownership, there are a lot of different loan programs available and it’s important to evaluate the features of each program as it relates to your specific financial situation.  A Sente Mortgage Banker can help you learn more about this program and explore your purchasing power.