HomeReady First $5,000 Grant

HomeReady Special Purpose Credit Program was initiated by Fannie Mae to help more first-time homebuyers achieve homeownership with HomeReady® First. 

• Eligible borrowers receive:

  • $5,000 grant

  • Up to $500 toward a 1-year home warranty (if applicable)

  • $500 toward appraisal costs

• Borrower’s current primary residence must be located in an eligible census tract. See below list of Metropolitan Statistical Area’s (MSAs)

• No income restrictions  

• No restrictions on the down payment

Check borrower eligibility with one of our Loan Officers. Just send the borrowers current primary address and indicate if they are a first-time homebuyer to determine if they may be eligible for the $5,000 grant.

• California

  • Riverside-San Bernardino-Ontario

Here's an Example. We enter the CURRENT address of the First Time Home Buyer. If the address is within the approved areas, the buyer qualifies for the Grant.

*HomeReady® First eligibility tool does not guarantee the accuracy, or completeness of any information, or determination provided by this system. Additional eligibility criteria may apply. Loan must be run through DU and receive message ID 3673 for full borrower eligibility.

More DOWN PAYMENT ASSISTANCE Programs