The HomeReady® mortgage by Fannie Mae is an innovative lending option aimed at helping creditworthy, low-to-moderate-income borrowers gain access to an affordable mortgage. HomeReady® is designed to better meet the financial needs of today’s borrower.
HomeReady® is a unique conventional mortgage because it allows income from a non-borrowing household member to be considered as a compensating factor for the loan. In addition, documented boarder or rental income may be used to qualify. These enhancements give more flexibility to non-traditional households.