Low Down Payment Program

Introducing Fannie Mae's Home Ready® Program - a conventional loan program that is designed to help moderate income households who can't afford a large down payment.



Automatic Monthly Mortgage Payments

Using an existing OWB or CIT account
Save even more and combine with one other mortgage rate pricing discount:
First Time Home Buyer
0.100% off
New Banking Relationshipwith 10% of Loan Amount in New Deposits
0.100% off
$500K+ Banking Relationshipwith $500,000+ in Deposits
0.200% off

HomeReady enables borrowers to potentially qualify for a mortgage with only 3% down.1 And buyers who qualify will benefit from taking the required online homeownership course - the Framework® Homebuyer Education Program. It helps answer your questions about the home buying process and prepares you for the costs and responsibilities of owning a home.

  • Extended households may help you qualify - If your household includes members who won't be included on the mortgage - such as relatives or roommates - their income may help you qualify.
  • Others who don't live in the home can join you on the mortgage -  Co-borrowers on a HomeReady mortgage are not required to live in the home, so relatives or other individuals may assist you with your home purchase.
  • Down payments as low as 3% -  Ideal for home buyers who can't afford to make a large down payment.
  • Savings over the life of the loan  - With private mortgage insurance that may cost less over time - may be eligible to be canceled once 20% home equity is reached, unlike mortgage insurance on government-insured loans.
  • Homeownership education to help you succeed  - Convenient online education that prepares you to buy a home and own a home for the long run.

Our mortgage specialists will help you choose what's right for your unique financial situation.

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Important Disclosures

It is important to know that with Adjustable-Rate Mortgages, your payment and rate may increase significantly over time.

Not all applicants will qualify for financing. Mortgage rates and terms are subject to change without notice.

Mortgages with LTVs higher than 80% with no PMI may generally have a higher interest rate and/or fees than other mortgages. This may result in a loan without mortgage insurance being more costly for a borrower who intends to remain in the property for a longer period of time. A borrower who intends to remain in the property for a shorter period of time may find that the extra interest cost is lower than the amount of PMI payments for that period of time.

Mortgage escrow accounts are created so that you can pay your yearly property taxes, homeowner’s insurance and mortgage insurance in monthly installments throughout the year, rather than all at once. When these bills are due, we disburse the funds from your escrow account to pay the taxes and insurance in a lump sum. If there is a requirement for a mortgage escrow account at closing, it will be required to be maintained for five (5) years after closing.

The rates displayed may require the establishment of an escrow account upon closing. If you choose to pay taxes and insurance separately, you will be responsible for timely payments, which may be substantial.

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