HomeReady® Mortgage Loans
Helps credit-worthy low-income borrowers become homeowners.
A program through Fannie Mae that helps our lenders work with credit-worthy low-income borrowers. A HomeReady loan can provide affordable homeownership opportunities to those who may not qualify for conventional mortgage loans. Work with your local mortgage loan officer to see if you qualify.
Fannie Mae Website
Low Down Payment
A borrower's down payment can be as low as 3% for a home purchase or refinance transactions. This is especially beneficial for first-time home buyers.
Cash for down payment or closing costs can come from multiple sources, including gifts, grants, or other. There is no minimum amount required for personal funds.
Interest rates are typically equal to or better than Fannie Mae's standard loan pricing. Ask your mortgage lender about current rates.
Mortgage Loan Calculator
Estimate monthly payments and total interest paid on any fixed-rate mortgage loan.
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Check out some of the mortgage loan options available with CMCU:
Please note, while you are undergoing the mortgage loan process, it is best that you check with your mortgage lender before opening any other loans at the same time.
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
We may also ask to see your driver’s license or other identifying documents.