Home Ready / Home Possible 30 Year Fixed


Home Ready and Home Possible Mortgage:

Fannie Mae and Freddie Mac have introduced a new way for home buyers to purchase a home.  If you have never owned a home you are eligible for reduced mortgage insurance (or no mortgage insurance) and a low down payment starting at 3%.  However you are not limited to the 3% down payment, you can put more down and still get the reduced mortgage rates.



The criteria for these mortgages are easy, considering they are a conventional mortgage they are subject to the same conditions a traditional loan is.  That means they are more relaxed on their appraisal guidelines and underwriting than their FHA counterpart.

Income Limits

These loans are subject to income limits and vary by a number of factors.  You can look up the income limits by address by clicking here

Unlike other programs that have income limits, Home Ready / Home Possible is more flexible.  Loans like WHEDA will take all overtime and household income into consideration.  Whereas these loans can omit a spouses income and debt.  If you have overtime that pushes you over qualification that can be omitted as well.

You do not have to be a “first time home buyer”

A first time home buyer is classified as someone who “has not owned a home in the last 3 years”.  This means anyone who has never owned a home, or anyone who has sold a home 36 months ago can now qualify as a first time buyer and experience the low rates and mortgage insurance.  You can sign up for weekly rates by clicking here as well.


What Can I Do Now?

You can Sign up for mortgage rates here

Read the About me section and learn more about how I conduct business

reviews are a great way to see who you are dealing with

if all that checks out you can apply here

Justin Scott

Loan Officer

NMLS 878581

  1. C) 920-530-4484
  2. O) 920-490-8823
  3. F) 920-490-8967

       Executive Mortgage

      NMLS 271650

 909 . E Walnut Street

Green Bay WI 54301