fbpx
AD Mortgage Correspondent

HomeReady

Fannie Mae’s HomeReady program is designed to help borrowers with low-to-moderate income buy or refinance a home by reducing the standard down payment and mortgage insurance requirements. The Conventional loan program also allows borrowers to use gifts from friends or family toward their down payment.

A&D Mortgage is a specialist in helping low-to-moderate income borrowers take advantage of this attractive financing opportunity and will guide you through the entire loan process.

Program highlights:

  • Down payments as low as 3%
  • FICO 620
  • Low income
  • First-time or repeat home buyers
  • Homeowner education helps to understand and manage the long-term financial commitments of homeownership

Join Us

  • Get in touch with us

Other Programs

block view
row view

Conventional

- Loan amounts up to $647,200
- A conventional loan can be used to finance a property in a high-cost area
- 15-, 20-, 25- & 30-year fixed rate
- Down payments as low as 3% depending on loan amount


Home Possible

- Fixed-rate financing for easier budgeting
- Homebuyer education is required for first-time buyers

Full Doc Non-QM

• FICO 660
• Up to 85% CLTV
• Loan amounts up to $3 million
• Max cash-in-hand $1 million, no limit for CLTV < 55%
• DTI up to 55%
• 30 & 40 Year Fixed, 5/6 & 7/6 ARM
• Traditional income
• 2-year credit event allowed
• Super Prime & Prime programs
• Condos up to 85% CLTV
• Condotels up to 70% CLTV
• NY up to 85% CLTV

12/24 Months Bank Statements

• No Score or FICO 660
• Up to 85% CLTV
• Loan amounts up to $3 million
• Max cash-in-hand $1 million, no limit for CLTV < 55%
• 30 & 40 Year Fixed
• 3 months reserves
• Gift Funds for reserves allowed
• 12 months from bankruptcy or foreclosure
• Mortgage history 0 x 60 x 12
• Combination of business and personal bank statements allowed
• Condo and condotels allowed