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AD Mortgage

HomeReady

Fannie Mae’s HomeReady program is designed to help borrowers with low-to-moderate income buy or refinance a home by reducing the standard down payment and mortgage insurance requirements. The Conventional loan program also allows borrowers to use gifts from friends or family toward their down payment.

A&D Mortgage is a specialist in helping low-to-moderate income borrowers take advantage of this attractive financing opportunity and will guide you through the entire loan process.

Program highlights:

  • Down payments as low as 3%
  • FICO 620
  • Low income
  • First-time or repeat home buyers
  • Homeowner education helps to understand and manage the long-term financial commitments of homeownership

Video tutorial

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Other Programs

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Conventional

- Loan amounts up to $647,200
- A conventional loan can be used to finance a property in a high-cost area
- 15-, 20-, 25- & 30-year fixed rate
- Down payments as low as 3% depending on loan amount


Home Possible

- Fixed-rate financing for easier budgeting
- Homebuyer education is required for first-time buyers

Full Doc Non-QM

- FICO 580
- 90% CLTV
- Loan amounts up to $4 million
- Max cash-on-hand $1 million, no limit for LTV < 55%
- DTI up to 55%
- 30 & 40 Year Fixed, 5/6 ARM, 7/6 ARM
- Traditional income​
- 2-year credit event allowed​
- Super Prime & Prime Programs​
- Condo up to 90% CLTV​
- Condotels up to 70% CLTV
- NY up to 90% CLTV
- Cryptocurrencies accepted for reserves, down payments and closing costs

12/24 Months Bank Statements

- FICO 580
- Up to 90% CLTV
- Loan amounts up to $4 million
- Max cash-on-hand $1 million, no limit for CLTV < 55%
- 3 months reserves
- Cryptocurrencies accepted for reserves, down payments and closing costs
- 12 months from bankruptcy or foreclosure
- Mortgage history 0 x 60 x 12
- Combination of business and personal bank statements allowed
- Condo and condotels allowed