Sorry, you need to enable javascript to visit this www.knowyouroptions.com.

URGENT NOTICE: Hurricane Relief Available for Affected Homeowners. Learn More ›

Innovative Mortgage Product From Fannie Mae Helps More Borrowers Qualify

Jan 8 2016

A recent article in National Mortgage News (NMN) says that HomeReady® mortgage by Fannie Mae, which lets lenders consider income from other household members when qualifying borrowers, received “near-universal praise from industry representatives and federal officials” at a recent housing symposium.

As reported by NMN, the symposium speakers said they expect HomeReady will “expand credit to more borrowers and open the door to more innovation in evaluating a borrower’s ability to repay.”

HomeReady, announced earlier this year and now widely available, helps to address the home financing challenges of multigenerational households, such as parents, adult children, and others sharing a home, minority families, and low- and moderate-income households.

And that’s a fast growing segment of the population.

Beware of Scams

Learn how to identify and avoid scam artists who promise immediate relief from foreclosure.
 

Find out more »

FAQs

Find the answers to common questions concerning your mortgage and the various options to avoid foreclosure.

Find out more »

Glossary

Visit our glossary of key terms to increase your understanding of the foreclosure options available.
 

Find out more »