Originating & Underwriting

HomeReady Mortgage

The 2022 income limits are available in Desktop Underwriter® (DU®) as of June 24th.  Income limits increased an average of $8,480, or 12.3% vs 2021.

For more information view the Selling Notice.


Built with today’s homebuyers in mind

Our low down payment HomeReady® Mortgage is designed to help lenders confidently serve today’s credit-worthy low-income borrowers. 

Ideal HomeReady Borrowers

  • Low income
  • First-time or repeat homebuyers
  • Limited cash for down payment
  • Credit score ≥ 620; borrowers with credit scores ≥ 680 may get even better pricing
  • Supplemental boarder or rental income
  • Looking to purchase or refinance

Homeownership Education Requirement

If all occupying borrowers are first-time homebuyers, then at least one borrower is required to take homeownership education, regardless of LTV. Fannie Mae HomeView™ can be used to satisfy the homeownership education requirement. Learn more.

Click here for more information on any of the features above.

HomeReady Comparison

Benefits HomeReady FHA
Required down payment 3% 3.5%
Cancellable mortgage insurance*    
Immediate appraisal orders from lenders    
Free from geographic restrictions on loan amounts    
Day 1 Certainty® freedom from reps & warrants available    


Area Median Income Lookup Tool

Use the interactive map to quickly find HomeReady income limits by area. Simply search by address or view the areas you serve.

Note: 2022 AMI limits will be available on the AMI Lookup Tool on July 18, 2022.

Find Eligibility