One of my favorite mortgage brokers in Charlottesville now offers mortgage options for low-income borrowers! This is big!!!

HomeReady® and Home Possible® mortgages are designed for low-income Charlottesville homebuyers. These programs offer credit flexibility to borrowers looking for low down payment options and flexible sources of funds.

Program highlights

Must be your primary Charlottesville residence.
Available on purchase loans and rate-and-term refinances.
Pay as little as 3% down with no minimum contribution requirement from the borrower’s own funds.
Homebuyer education may be required.
Eligible borrowers must not exceed 80% of the area’s median income.
Multiple property types are allowed.
Non-resident co-borrowers are allowed under certain restrictions.

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