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.
Borrowers must have a qualifying income of less than or equal to 50% of the applicable area median income of the property’s location.
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.
Very low-income individuals
First-time or repeat homebuyers
Those with limited cash for down payment
Supplemental boarder or rental income
While HomeReady® offers incredible benefits, it's essential to understand the details:
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.
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.
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.