HomeReady Program

Special Benefits for Qualified Borrowers.

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Features and Benefits

  • Financing up to 97% loan-to-value (LTV) for purchase of one-unit principal residence (DU is required for LTV ratios >95%); up to 95% LTV for limited cash-out refi (LCOR) and up to 97% LTV for LCOR transactions in DU when the mortgage being refinanced is owned or guaranteed by Fannie Mae
  • Borrower is not required to be a first-time buyer
  • Cancellable mortgage insurance (restrictions apply); lower MI coverage (25% for LTVs >90% to 97%) compared with standard requirements
  • Gifts, grants, Community Seconds®, and cash-on-hand permitted as a source of funds for down payment and closing costs
  • Supports HomeStyle® Energy, manufactured housing, and HomeStyle Renovation (approved lenders)
  • Innovative underwriting flexibilities expand access to credit responsibly. Flexibilities include:
    • Rental unit and boarder income
    • Non-occupant borrowers, such as a parent
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If you're qualified for the HomeReady™ program, you'll want to complete the mandatory home buyer education course as soon as you're certain you'll be purchasing a home under the program.

Foundry Mortgage GUARANTEE:

If you're like most people, you want expert advice and the best deal. That's our mission! If we don't have the best deal when you're ready to lock in your interest rate, we'll transfer all paperwork to your lender of choice at your request. No cost or obligation. Call now to validate the "best advice" part of the agreement - you'll know within 5 minutes that we are qualified to be your expert home loan advisors.

Loan Advisor Mission Statement

"To assist others in making the best home financing decisions, at the lowest cost and interest rates available."

Are you ready to get started?

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"Helping People Shape Their Lives."

800.640.3050    info@foundrymortgage.com
117 History Street Tiger, Georgia 30576
NMLS 1737164 Georgia Residential Mortgage Licensee 62261

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