$2,500 Credit with HomeReady® and HomePossible®

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Fannie Mae and Freddie Mac have announced an initiative to support homeownership opportunities for creditworthy very low-income borrowers.

This is a temporary enhancement to Fannie Mae HomeReady® and Freddie Mac Home Possible® programs, offer $2500 LLPA credit to these borrowers as noted. This credit is available through February 1, 2025.


➢ The borrower(s) must have total qualifying income less than or equal to 50% of the applicable area median income (AMI) limit for the subject property’s location.

➢ The full amount of the credit must be provided directly to the borrower through the transaction, such as being applied to down payment and closing costs, including escrows and mortgage insurance premiums.

➢ The credit may be used to satisfy the 3% minimum contribution for all loans secured by one-unit properties or loans secured by two-to-four-unit properties with LTV ratios less than or equal to 80%.

➢ The credit may not result in cash to the borrower, nor may the credit cause a principal reduction on the loan. If there are excess credits, the loan may have to be repriced.

➢ The credit is included in interested party contribution calculations as well, if credit exceeds the maximum based on LTV, the loan may have to be repriced.

➢ The standard LLPA waiver for HomeReady / Home Possible loans continues to apply in addition to the new credit.

For more information, contact your Kind Account Executive today!

*This information is for real estate and mortgage lending professionals only.  This is not an advertisement directed to consumers. Kind Lending, NMLS# 3925, Equal Housing Lender. Program restrictions may apply.