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HomeReady Mortgage

Are you ready? Imagine home ownership.

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Built for today’s first-time home buyer, HomeReady mortgage is ideal for home buyers with limited savings, and the down payment and closing costs can be paid from sources other than your own funds.

It allows co-borrowers who don’t live in the home to be included on the mortgage, such as parents or others who want to help. And, income from extended family or other household members can help you qualify—even if they are not on the mortgage.

With private mortgage insurance that may cost less over time—borrowers may be eligible to cancel once 20% home equity is reached, unlike mortgage insurance on government-insured loans.

Convenient online education prepares you to buy and own a home for the long run.

Why a HomeReady Mortgage at Members First?

  • Qualify for a mortgage with help from co-borrowers or extended households
  • Down payments as low as 3%
  • Savings over the life of the loan
  • Home ownership education to set you up for success

Find out if HomeReady mortgage is right for you. Contact a knowledgeable mortgage representative for details.

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