Home Ready Mortgage

Home Ready Mortgage program allows up to 97% financing for home purchase with many borrower flexibilities. Flexible sources of funds can be used for the down payment and closing costs with no minimum contribution required from the borrower's own funds (1-unit properties). Conventional home financing with cancellable monthly MI; reduced MI coverage requirement above 90% LTV supports competitive borrower payment. Homeownership education helps buyers get ready to buy a home and be prepared for the responsibilities of homeownership. The required training offers an easy-to-use, online course provided by Framework.