Conventional 97% Financing

Home Ready

  1. Not required to be a first time home buyer
  2. Income Limits: 80% of AMI most areas. Higher percentages avaialble for high minoritycensus tracks or homes in disaster areas
  3. MI Coverage: 25% MI coverage for LTV ratios 90.1 – 97%. Standard MI for 90% or lower.
  4. Pre-Purchase homeownership education required
  5. Purchase transactions only

Fannie Mae Standard

  1. Must be a first time home buyer
  2. No Income limits
  3. Standard MI rates
  4. No homeownership education required