Colorado home buying: 4 things you need to know – Your credit score is a major factor in mortgage approval A credit score isn’t everything. FHA loans require 3.5% down, and a 3% down payment is even an option with Fannie Mae HomeReady and Freddie.
PDF Frequently Asked Questions HomeReady FAQs – Take advantage of risk-based pricing waivers for LTV ratios > 80 percent with a credit score >= 680. Simplicity: Combine standard and HomeReady loans into MBS pools and whole loan commitments. Sustainability: Expand access to credit responsibly with homeownership education and advising options for borrowers.