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Home Ready Loan

Home Ready by Fannie Mae – Serving California, Colorado, Connecticut, Florida, Georgia, Illinois, Maryland, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, South Carolina, & Washington D.C.

HomeReady® is Fannie Mae’s affordable, low down payment mortgage product designed for creditworthy low- to moderate-income borrowers, with expanded eligibility for financing homes in low-income communities.

HomeReady benefits:

  • Low down payment; as little as 3% down for home purchases
  • Flexible sources of funds with no minimum contribution from borrower’s own funds
  • Non-occupant borrowers permitted
  • Cancellable mortgage insurance (restrictions apply)
  • Reduced MI coverage requirement for loan-to-value ratios above 90% (up to 97%)
  • Pricing is better than or equal to Fannie Mae’s standard loan pricing (risk-based pricing waivers for LTV ratios > 80% with a credit score ≥ 680)

Northstar Funding Inc – NMLS 139369
Licensed Mortgage Correspondent Lender State of Connecticut (#MCL-139369); Licensed Mortgage Broker State of Florida (#MBR708); Licensed Mortgage Lender State of Maryland (#21674); Licensed Correspondent Residential Mortgage Lender State of New Jersey (#0751973); Registered Mortgage Broker State of New York (#A007412); Licensed Mortgage Broker Commonwealth of Pennsylvania (#44493); Licensed Loan Broker State of Rhode Island (#20143018LB); California License (#60DBO61184 ); Licensed Mortgage Broker District of Columbia (#MLB139369); North Carolina Mortgage Broker License (#B-175236); Colorado Mortgage Company Registration; Georgia Mortgage Broker/Processor License/Registration (#61015); South Carolina-DCA Mortgage Broker License; Oregon Mortgage Lending License (#ML-5692); Illinois Residential Mortgage License (#MB.6761332); Virginia Broker License (#139369); Massachusetts Mortgage Broker License (#MB.139369) New Hampshire Mortgage Banker License (#23399MB)

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Registered Mortgage Broker-NYS Banking Department. Loans arranged through third party venders
79 Hudson Street, Suite 301A, Hoboken, NJ 07030
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This site is not authorized by the Department of Financial Services. No mortgage loan applications for properties located in New York will be accepted through this site

The advertisement of a mortgage loan by a residential mortgage broker (or residential mortgage lender that acts merely as a mortgage broker with regard to the advertised loan) or by a mortgage loan originator employed by such licensee that does not specifically and conspicuously state that the advertiser will not make any mortgage loan commitments or fund any mortgage loans under the advertised program and does not contain a statement that conspicuously states that the advertising licensee, or his or her employer if the advertiser is a licensed mortgage loan originator, arranges loans with third-party providers; licensed by the N.J. Department of Banking and Insurance.