HOMEREADY MORTGAGE

Designed for creditworthy, low- to moderate-income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities. 

Benefits And Features

  • Low down payment. 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 (per Servicing Guide policy); reduced MI coverage requirement above 90% LTV supports competitive borrower payment.
  • Homeownership education helps you 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.
  • Allows for non-occupant borrowers (such as a parent)
  • Very Extended Family Household Friendly! Allows for the income from extended family living in the house to be factored in.
  • Allows Permit Rental Income! Even for a 1-unit property with an accessory dwelling unit (such as a basement apartment)
  • Available for 1-4 unit family dwellings, townhomes, row homes, condo & PUDs!

For more information, or to pre-qualify for a HomeReady Mortgage, contact us today at 888-247-5757.

Copyright 2017 Franklin First Financial Ltd. All Rights Reserved.

Franklin First Financial Ltd. (NMLS# 1630)
538 Broadhollow Road, Suite 401, Melville, NY  11747
Direct:  (631) 847-8700
Toll Free:  (888) 933-8639
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FRANKLIN FIRST FINANCIAL, LTD. 538 BROADHOLLOW RD, STE. 401 MELVILLE, NY 11747 IS A LICENSED MORTGAGE BANKER-NYS DEPT OF FINANCIAL SERVICES. LICENSE #107407 NMLS #1630, HUD APPROVED TITLE II NON-SUPERVISED LENDER #17895-0000-0. FRANKLIN FIRST FINANCIAL IS NOT ACTING ON BEHALF OF OR AT THE DIRECTION OF HUD/FHA OR THE FEDERAL GOVERNMENT. ALL LOANS ARE SUBJECT TO CREDIT & APPRAISAL APPROVAL. PROGRAMS, RATES, TERMS, AND CONDITIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE.OTHER RESTRICTIONS MAY APPLY. THIS IS NOT A COMMITMENT TO LEND. COPYRIGHT FRANKLIN FIRST FINANCIAL, LTD. ALL RIGHTS RESERVED.

 

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