Created by Fannie Mae. Offered by Xceed!

HomeReady® is a Fannie Mae program designed for both home purchase and refinance that offers lower costs and easier qualification than conventional home loans. So whether you’re a first-time homebuyer or current homeowner, HomeReady® may be right for you.

Down Payments as Low as 3%

  • Funds from sources other than your savings, such as gifts and grants can be used toward the down payment.
  • A second loan may be appropriate to assist you with a down payment. A Community Second loan features a low-interest rate and flexible repayment terms.

Lower Rates and Closing Costs

  • Your good credit could help you obtain a lower rate compared to conventional and FHA loans.
  • Mortgage insurance may be offered at a lower monthly cost.

Easier Qualifications

  • Members of your extended household (relatives or roommates) do not need to be on the loan, but their rent and income may help you qualify.
  • Co-borrowers who don’t live with you can help add to your monthly income to help you qualify.
  • Non-traditional credit history could be used to qualify.

Is HomeReady® for you?

  • At least one buyer must be a first-time homebuyer or someone who hasn’t owned any residential property in the last 3 years.
  • HomeReady® has several options for easy, online home buyer education. At least one borrower must complete the Framework Homeownership Course prior to purchasing the home.
  • Primary residence only (1 to 4 units). Rental properties and second homes are not eligible.
  • HomeReady® may have a limited income eligibility range in some markets. Check with your Xceed Mortgage Loan Officer to review exact requirements in your area.

Contact one of our Mortgage Loan Officers today for more information.


* Actual rates may vary based on credit history, term, loan amount, and underwriting factors. Credit and collateral are subject to approval. This is not a commitment to lend. Xceed Financial Credit Union loan limits, collateral requirements, and underwriting guidelines will be followed. Programs, rates, terms and conditions are subject to change at any time without notice. Additional terms, conditions, and restrictions apply.