HOMEREADYTM HIGHLIGHTS

FLEXIBLE SOURCES FOR FUNDSGifts and grants may be used towards down payment and closing costs

LOW DOWN PAYMENT – AS LITTLE AS 3% DOWNPlus, HomeReady® does not require a minimum contribution from the buyer’s own funds for one-unit properties

EXTENDED HOUSEHOLD & RENTER/BOARDER INCOMES ALLOWEDIncome for a roommate who will not be on the mortgage for the home could help the buyer qualify. Rental income from an accessory dwelling (garage apartment) or boarder income may also be considered*

CO-BORROWERS DO NOT HAVE TO LIVE IN THE HOMEWith a minimum of 5% down payment, Homeready® lets co-borrowers (like parents) help buy a home, but does not require them to live in it.

SIMPLE BORROWER INCOME ELIGIBILITYHOMEREADY® is available when purchasing or refinancing any single-family home, as long as the borrower meets the income limits of the property location.

• No income limit on properties in low-income census tracts• 100% of the area median income on all other properties

CONVENTIONAL FINANCING WITH LOWER PMIHOMEREADY® requires lower than standard private mortgage insurance (PMI) saves borrowers money or creates additional buying power.

Federally insured by NCUA | Equal Housing Lender

*Additional restrictions may apply. This document is not a Consumer Credit Advertisement and is intended for general informational use by real estate industry professionals only. Information current as of December 12, 2015 and subject to change without notice. HomeReady is a non-registered trademark of Fannie Mae. Fannie Mae is a non-affiliated third-party partner of Desert Financial Credit Union. Mortgage loans are offered by Define Mortgage Solutions, LLC, NMLS ID #1761612, a wholly owned subsidiary of Desert Financial Federal Credit Union. BK#0949053

CONTACT THE DEFINE MORTGAGE SOLUTIONS TEAM TO LEARN MORE

WEBINAR WEDNESDAYTOPIC:

Loans and Down PaymentsFederally insured by NCUA | Equal Housing Lender

DOWN PAYMENT ASSISTANCE PROGRAMS

WISH ProgramMatching Funds Assistance: WISH is a grant program with a 3:1 match of funds. As an example, if you have $5,000 toward the purchase of a home the grant program adds 3X that amount, or $15,000 (which is the maximum grant amount), and you now have a total of $20,000 to use toward your down payment and closing costs. Gift funds are acceptable for buyers share. Purchase Price Limits: $453,100Income Limits: The total household income is at or below 80% Area Median IncomeOccupancy: Primary, Owner OccupiedHomebuyer Education: Required Additional Requirement: No homeownership in the past three years

HOME IN 5Down Pmt. Assistance: 2-3% depending on loan type & credit score +1% for qualified military, first responders, and teachersPurchase Price Limits: $371,930Income Limits: $92,980 Annually Eligible Areas: Maricopa CountyOccupancy: Primary, Owner OccupiedHomebuyer Education: Required

HOME PLUSDown Pmt. Assistance: Up to 5% depending on loan type & credit score +1% for qualified military & veteransPurchase Price Limits: $396,680Income Limits: $99,170 Annually Eligible Areas: State of ArizonaOccupancy: Primary, Owner OccupiedHomebuyer Education: Required

Pathway to PurchasePathway to Purchase is a partnership of the Arizona Department of Housing (ADOH) and the Arizona Home Foreclosure Prevention Funding Corporation (AHFPFC). Down Pmt Assistance: Up to 10% of purchase price, up to $20,000Purchase Price Limits: $371,936Income Limits: $92,984 AnnuallyEligible Zipcodes: Glendale - 85301 Phoenix - 85016, 85017, 85041, 85042, 85051 Casa Grande - 85122 Additional zip codes in outlying areas availableOccupancy: Primary, Owner OccupiedHomebuyer Education: Required