YOU CAN BUY A HOME WITH ONLY 3% DOWN!
Fannie Mae’s new Home Ready loan program can help you finance the purchase of a new home! It’s
a lending option that helps creditworthy borrowers with lower and moderate incomes, and with limited
assets for down payment and closing costs to buy a home. The competitive pricing and more flexible credit
qualification is beneficial if you’re buying your 1st home or you’re interested in purchasing a new one!
• You do not need to be a first time homebuyer!
• Fixed rate loans.
• One or two unit principal residences.
• Condos, PUD’s, and Manufactured housing are acceptable at reduced LTV’s.
• LTV up to 97%*, CLTV if on approved community second program up to 105% LTV.
• Conforming loan amounts only.
• All loans must be underwritten to FNMA guidelines.
• Reduced Mortgage Insurance, fees, and allows more flexible qualification requirements.
• Homeownership education for at least one borrower with Framework Homeownership LLC.
• Income limitations based on census tract. Most of Santa Fe county has a maximum annual income limitation of $49,920.
You can visit FNMA’s site for other counties or look up the specific census tract and of the home you’re interested in buying at: TMORTGAGECO.COM
http://geocoding.geo.census.gov for income eligibility and census tract numbers.
Give us a call today to find out how you can purchase a home with only 5% down and to start the approval process so that you can buy a new home!
*NOTICE: The payment is based on a 30 year fixed term loan in the amount of $195,000, at 97% Loan to Value, Interest rate of
4.125% + 0 points, APR of 4.874%, the monthly principal and interest payment will be $945.07 with monthly MI of $156.
This rate is based on a credit score of score of 700, DTI of 40% or lower for a primary residence.
NOTICE: This is not a commitment to lend or extend credit. Restrictions may apply. Information and/or data is subject to
change without notice. All loans are subject to credit approval. Not all loans or products are available in all states. Rates are
subject to change without notice and are subject to program qualification. Not all loan programs are available at all times.
Loan program requirements are subject to change.