FNMA’s HomeReady® mortgage is an affordable low down payment mortgage product designed for credit-worthy low- to moderate-income borrowers, with expanded eligibility for financing homes in low-income communities.  Borrower benefits include:  Low down payments; Flexible sources for funds to close; Favorable pricing with credit scores ≥ 680 and Loan-To-Value ratios above 80%; Rental and boarder income may be considered for qualifying; Combined LTV ratios up to 105% for loans with an eligible Community Seconds® transaction; Cancellable mortgage insurance once the borrower reaches 20% equity in the home (restrictions apply); Reduced MI coverage requirements for LTVs above 90% (up to 97%).  Home ownership education and housing counseling options empower borrowers to become successful homeowners