Exciting news. The new enhanced HomeReady program is increasing access to homeownership!
HomeReady® offers an ideal mortgage solution for both first-time and repeat buyers with a low-down payment and flexible financing. To assist very low-income purchase borrowers, Emerald Home Loans now offers a $2,500 credit applicable to down payment and/or closing costs.
The New HomeReady® Program Highlights
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Borrowers must have a qualifying income of less than or equal to 50% of the applicable area median income of the property’s location.
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The $2,500 credit must be provided upfront to the borrower and can be applied towards down payment and/or closing costs, including mortgage insurance premiums.
Ideal For:
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Very low-income individuals
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First-time or repeat homebuyers
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Those with limited cash for down payment
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Supplemental boarder or rental income
What You Need to Know
While HomeReady® offers incredible benefits, it's essential to understand the details:
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Homeownership Education: If all occupying borrowers are first-time homebuyers, then at least one borrower is required to take homeownership education, regardless of LTV. It’s a small investment in knowledge that can yield significant rewards in your homeownership journey.
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Act Now: The $2,500 credit is only available until February 15, 2025. Don't miss out on this limited-time opportunity to take advantage of the HomeReady® program.
Eligibility requirements, exclusions and other terms and conditions apply.
Embrace the Journey with HomeReady®
Are you ready to take the next step towards homeownership? Reach out today to see if you qualify or to get pre-approved. The EHL Team is here to guide you every step of the way on your journey to owning your dream home.
Helpful Mortgage Resources
- First-time Homebuyer Resources
- Homebuyer Guide
- Mortgage Calculators
- Learning Center
- Homebuyer Toolkit
- Online Pre-Approval Application
- Online Apply Now Application
