Cal DPA Down payment help, made plain

Fannie Mae HomeReady

Fannie Mae HomeReady is a conv 97% ltv with reduced mi from Fannie Mae. Coverage: Low/moderate income; rental-income from boarder allowed. Up to 97% toward a home purchase. Income limit: ≤80% AMI by census tract.

Up to 97%
Listed as open as of May 2026

Coverage: Low/moderate income; rental-income from boarder allowed.

Income limit≤80% AMI by census tract
Minimum credit score620
Maximum DTI50%
OccupationsLow/moderate income; rental-income from boarder allowed
Property typesSFR, 1-4 unit (owner-occ unit), condo, PUD, manufactured
OccupancyOwner-occupied primary
Eligible loan productsConventional
Sales price capConforming loan limit ($806,500 std 2026)
RepaymentReduced PMI; cancellable at 80% LTV
StackingLayers with most state/local DPA; non-occupant co-borrower OK
Notes$2,500 grant available to borrowers ≤50% AMI through participating lenders.
Source Fannie Mae·official program page·Listed
Cal has not re-checked this listing recently. Confirm the current terms with the program administrator before relying on them.

Provider: Fannie Mae · program details at the provider’s site.

Check what you qualify for Ask Cal about your situation

See if Fannie Mae HomeReady fits your purchase

Tell Cal how to reach you and a licensed loan officer will walk through this program, what it stacks with, and what you would actually qualify for. No spam, no list-selling.

More National and multi-state programs