Dympna Fay-Hart
Serving Chicago Area Sellers & Buyers

(773) 230-3800

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Home Mortgage Financing

New Mortgage Qualifying Guidelines - Just Announced

Fannie Mae announced that it will make an enhanced affordable lending product available to lenders sometime later this year.  The new program, called the HomeReady™ Mortgage, will offer expanded eligibility guidelines that will be real game changer for a lot of people who could not previously qualify for a mortgage.  

Finally, after years of research, Fannie Mae has recognized the many financial challenges many would-be homebuyers are facing.  Many can't afford a large down payment, they may have multiple student loans, and/or they may rely on income from non-traditional sources, such as parents or other family members.  These factors have impacted the ability of many people from qualifying for a mortgage.  Well, that may be about to change . . . perhaps for YOU!

Here are the new expanded guidelines for the HomeReady™ Mortgage: