HomeReady Mortgage for First-Time Home Buyers
HomeReady helps Mainstreet Credit Union members with low to moderate incomes, first-time home buyers, and those who have limited cash for down payments. What’s great about our HomeReady Loans is that family and friends can help you fund your home, even if they don’t live with you!
To apply for a HomeReady loan you must meet these requirements:
- Income less than or equal to the area median income (AMI)
- Minimum credit score of 620
- Participation in home-ownership education
We're excited to help guide you throughout the home buying process. With a Mainstreet HomeReady loan, we strive to provide these benefits:
- Home loan down payments as low as 3%
- Gifts can be used for down payment Reduced Private Mortgage Insurance (PMI)
- No prepayment penalty
- Competitive interest rates
- Fees $500 less than competitors on average because we process and close our own loans
- We don’t sell our conventional loans, so your service is always local and personal
Want to learn more about mortgage loans offered at Mainstreet Credit Union? Contact us or visit us in person at one of our branches located in Kansas City, Missouri or the following Kansas cities: Bonner Springs, Kansas City, Lawrence, Leavenworth, Lenexa, Mission, Olathe, Shawnee Mission.