Fannie Mae to Help Chula Vista Home Buyers
Fannie Mae seeks to make it easier for first time and repeat buyers to purchase with its new HomeReady mortgage. This new program is designed to buyers and families get on their road to home ownership. All borrowers do not have to reside on the property.
– as little as 3% down payment with no minimum from borrower’s own fund.
– lowers mortgage insurance costs. ( P.M.I.)
– down payment assistance programs including gifting and cash-on-hand.
– use income from non-occupying co-borrowers
-“Boarder income” Their rent payments may now be allowable income to help you qualify.
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