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HomeReady Mortgage

HomeReady helps members with a low to moderate incomes, first-time 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:

  • 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