Fannie Mae HomeReady® Mortgage
Mortgages designed to welcome you home.
When you're ready to buy a home, a Fannie Mae HomeReady® mortgage from KeyBank can help. These loans make home buying truly affordable and, from our initial meeting to the closing, we’ll be with you every step of the way.
Overview
| Product Eligibility | Based on income or location1 |
|---|---|
| Loan to Value (LTV) |
Up to 97% |
| Interest Rate |
Fixed |
| Down Payment |
As low as 3% |
| Private Mortgage Insurance (PMI) |
Lower premiums available |
Features
- Available for purchases and for rate or term refinancing2
- Gifts, grants and community seconds are permitted as funding sources for down payment and closing costs. 3%, 6% or 9% seller contribution allowed (based on LTV), and can be used for closing costs or prepaid items
- Available for one-to four-unit, owner-occupied properties including single-family, attached or detached, manufactured homes,3 condos or planned unit developments.
Contact Us
We'll walk you through your options. With your rates, terms and benefits in hand, you'll have everything you need to take
the next step.
Maximum income is limited to 80% of the Area Median Income (AMI) in all census tracts.
Cash-out refinances not permitted.
Geographic restrictions may apply. Please ask us for more information.
NOTICE: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. All home lending products, including mortgage, home equity loans and home equity lines of credit, are subject to credit and collateral approval. Not all home lending products are available in all states. Hazard insurance and, if applicable, flood insurance are required on collateral property. Actual rates, fees, and terms are based on those offered as of the date of application and are subject to change without notice. Mortgage and Home Equity Lending products offered by KeyBank are not FDIC insured or guaranteed.
NMLS# 399797. Equal Housing Lender.
