Buy with as little as 3% down through Fannie Mae HomeReady. Flexible income, cancellable PMI, and VLIP grant pairing for Indiana buyers.
Fannie Mae HomeReady Loans | The 2 Mortgage Guys
Buy with as little as 3% down through Fannie Mae HomeReady. Flexible income, cancellable PMI, and VLIP grant pairing for Indiana buyers.
Fannie Mae HomeReady
Conventional financing built for real households
HomeReady requirements
HomeReady eligibility check
HomeReady eligibility check
Income flexibility that standard conventional often misses
Pair HomeReady with a VLIP grant
Who HomeReady is built for
HomeReady Sub Pages
Ready to see if HomeReady fits?
Buy your primary home with as little as 3% down , flexible income sources, and cancellable PMI — built for income-eligible buyers who want conventional financing that actually fits.
Why buyers choose it
HomeReady lowers the cash barrier of a traditional conventional loan without locking you into FHA mortgage insurance for the life of the loan. Ryan and Steve underwrite through Luminate Bank so your AMI, income mix, and VLIP eligibility are checked before you write an offer.
At a glance
Guidelines update with Fannie Mae selling guides. The snapshot below is educational — your pre-approval uses current overlays for credit, AMI, and property type.
Answer a few quick questions about occupancy, income, credit, and down payment — we will screen you against HomeReady guidelines and flag VLIP grant pairing when it applies.
HomeReady requires a primary residence
Investment properties and second homes do not qualify for HomeReady. Ryan and Steve can still walk you through conventional or DSCR options for non-owner-occupied purchases.
Preliminary result
VLIP grant screening ($2,500 credit)
Educational screening only — AMI limits vary by county and household composition. Final HomeReady eligibility is confirmed during underwriting against current Fannie Mae selling guides.
Not required for HomeReady, but helps us flag VLIP grant pairing.
Where are you buying, and what is your household income?
Area:
HomeReady limit for your area: (80% AMI)
HomeReady advantage
Many buyers qualify on paper once every income stream is counted correctly. HomeReady is designed for multi-generational households, side income, and rental potential on the same property.
Stack more savings
Very Low Income Purchase (VLIP) grants can add a $2,500 credit toward down payment, closing costs, pre-paids, or mortgage insurance — when household income is at or below 50% AMI and at least one borrower is a first-time buyer.