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HomeReady® Mortgage Loans

Helps credit-worthy low-income borrowers become homeowners.

A program through Fannie Mae that helps our lenders work with credit-worthy low-income borrowers. A HomeReady loan can provide affordable homeownership opportunities to those who may not qualify for conventional mortgage loans. Work with your local mortgage loan officer to see if you qualify.

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Fannie Mae Website

FANNIE MAE HomeView®

Start your Free Homeownership Education Course. Dive into an in-depth understanding of the homebuying process with Fannie Mae

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Low Down Payment

A borrower's down payment can be as low as 3% for a home purchase or refinance transactions. This is especially beneficial for first-time home buyers.

Flexible Funding

Cash for down payment or closing costs can come from multiple sources, including gifts, grants, or other. There is no minimum amount required for personal funds.

Competitive Pricing

Interest rates are typically equal to or better than Fannie Mae's standard loan pricing. Ask your mortgage lender about current rates.

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Mortgage Programs

Check out some of the mortgage loan options available with Magnifi Financial:

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CONVENTIONAL MORTGAGE

Traditional mortgage loans with fixed rates throughout the term of the loan.

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Please note, while you are undergoing the mortgage loan process, it is best that you check with your mortgage lender before opening any other loans at the same time.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.

We may also ask to see your driver’s license or other identifying documents.

Membership means more here.

At Magnifi, you're not just a member-owner of an award-winning credit union; you're part of Magnifi and receive all the benefits and perks you need to succeed financially.